The term for a broad measure of the balance of trade that includes trade in goods and services as well as international flows of income and foreign aid is
a. current account balance.
b. merchandise trade balance.
c. unilateral transfer balance.
d. goods account balance.
a. current account balance.
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Which of the following would encourage greater investment in capital?
a) an increase in the corporate profits tax b) greater uncertainty regarding the rate of return c) an increase in the price of capital d) a reduction in the rate of interest e) an increase in the rate of depreciation or obsolescence
Given the cost function C(Y) = 6Y2, what is the marginal cost?
A. 12Y B. 6Y C. Y2 D. 3Y
What is the shape of the long-run supply curve in a decreasing-cost industry?
A. increasing B. downward sloping C. upward sloping D. horizontal
All games share three characteristics. Two of these characteristics are rule and strategies. What is the third characteristic called?
A) competition B) collusion C) results D) payoffs