All of the following are surplus items on the balance of payments accounts EXCEPT
A) U.S. residents purchases of gold from foreign residents.
B) foreign tourists spending funds in the United States.
C) exports of merchandise.
D) sales of U.S. dollars to foreign residents.
Answer: A) U.S. residents purchases of gold from foreign residents.
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Junk bonds are defined as those bonds the rating services consider to be
A) investment grade. B) high risk or speculative grade. C) financial grade. D) in default.
When the supply of a good decreases and its demand increases by the same amount: a. Price will change in the same direction as the shift in demand
b. Price will change in the same direction as the shift in supply. c. Quantity exchanged will change in the same direction as the shift in supply. d. Quantity exchanged will change in the same direction as the shift in demand.
Which is true about the means of production?
A. Under capitalism it is privately owned, and under fascism it is owned by the government. B. Under fascism it is privately owned, and under capitalism it is owned by the government. C. Under both capitalism and fascism it is owned by the government. D. Under capitalism and fascism it is privately owned.
Which of the following may transform an industry from oligopoly to monopolistic competition?
A. Significant vertical integration B. Exit of firms C. A series of horizontal mergers D. Entry of new firms