Which of the following statements accurately describes the current account in 2017?
a. The balance on goods and services was $-808 billion.
b. The current account balance was -$449 billion.
c. The balance of trade was $354 billion.
d. The net balance was -$449 billion.
b. The current account balance was -$449 billion.
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If the percentage change in quantity demanded is zero for any percentage change in the price of the good, demand is classified as:
A. perfectly inelastic. B. inelastic. C. unit elastic. D. perfectly elastic.
Which of the following is a characteristic of an oligopolistic market structure?
A) There are few dominant sellers. B) Each firm sells a unique product. C) Each firm need not react to the actions of rivals. D) It is easy for new firms to enter the industry.
Refer to Figure 16-5. Suppose the firm represented in the diagram decides to use a two-part pricing strategy such that it charges a fixed fee and a per-unit price equal to the competitive price
(This is also called an optimal two-part tariff.) What is the per-unit price it should charge, if any? A) It should not charge a price per unit; just a flat fee to consume as much of the product as desired. B) It should charge a range of prices from $40 to $12. C) $12 D) $16
What is the Fisher Effect? Provide an example
What will be an ideal response?