A gift from the British prime minister to the American president would be classified as a _____ in the balance of payments account
a. capital transfer
b. capital receipt
c. universal receipt
d. unilateral transfer
e. foreign aid
d
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In the United States, the official poverty line is calculated by multiplying:
A. the cost of food for a family of a given size by 3. B. the average expenditure on housing for a family of a given size by 3. C. the average expenditure on housing for a family of a given size by 2. D. the cost of food for a family of a given size by 2.
The direct trade of goods and services for other goods and services is called:
A. using a medium of exchange. B. barter. C. financial intermediation. D. diversification.
Cyclical unemployment occurs:
A. because the government labels some people who aren't really in the labor force as unemployed. B. with economic fluctuations; it increases during bad times and decreases during good times. C. naturally during the normal workings of an economy, as people change jobs, move across the country, etc. D. because of a mismatch between the jobs that are available in the economy and the skills of workers seeking jobs.
The Russian government wants to reduce the consumption of vodka. A one hundred rouble tax on each bottle purchased may reduce the consumption of vodka under which circumstance(s)?
A) Vodka is an inferior good. B) Vodka is a normal good. C) Vodka is an inferior good and the taxes collected from this tax are rebated to consumers. D) Vodka is a normal good and the taxes collected from this tax are rebated to consumers. E) both B and C