Which of the following would be a debit in the U.S. balance of payments?
a. the purchase of a Japanese car by an American
b. the purchase of air service from a U.S. airline by a Japanese traveler
c. a short-term loan extended to a Japanese manufacturer by a U.S. bank
d. the purchase of U.S. grain by a Japanese bakery
a
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Which of the following is consistent with secular deflation?
A) a persistently decreasing price level caused by money being withdrawn from the economy B) a persistently increasing price level caused by several periods of economic growth with decreasing AD C) a persistently decreasing price level caused by increases in government expenditures D) a persistently decreasing price level caused by several periods of economic growth with stable AD
In contrast with nominal GDP, real GDP refers to nominal GDP
a. minus exports. b. minus personal income taxes. c. corrected for price changes. d. corrected for depreciation.
When a nation is under-allocating resources to the production of a good, then the:
A. Marginal benefit is greater than the marginal cost of the good B. Marginal benefit is less than the marginal cost of the good C. Marginal cost of producing the good is decreasing D. Marginal benefit of producing the good is increasing
For a monopolist, marginal revenue ________ for all units of output except the first unit.
A. is greater than the price of output B. is less than the price of output C. is equal to the price of output D. may be either greater than or less than the price of output