Which of the following statements about the U.S. balance of payments in 2013 is true?
a. In the third quarter of 2013, the services account recorded a deficit of $25 million.
b. In the third quarter of 2013, the current account showed a surplus of $174,091 million.
c. In the third quarter of 2013, the merchandise account showed a surplus of $179,457 million.
d. In the third quarter of 2013, the merchandise account showed a deficit of $179,457 million.
e. In the third quarter of 2013, the services account recorded a deficit of $38,175 million.
d
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The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. requiring employees to punch time clocks c. instituting longer work days d. replacing closed offices with cubical office spaces
If a dollar buys more corn in the U.S. than in Mexico, then
a. the real exchange rate is greater than 1; a profit might be made by buying corn in the U.S. and selling it in Mexico. b. the real exchange rate is greater than 1; a profit might be made by buying corn in Mexico and selling it in the U.S. c. the real exchange rate is less than 1; a profit might be made by buying corn in the U.S. and selling it in Mexico. d. the real exchange rate is less than 1; a profit might be made by buying corn in Mexico and selling it in the U.S.
By looking at the graphs showing the impact of a positive supply shock on aggregate demand and aggregate supply and on the Phillips curve, we can see that a positive supply shock would ______.
a. increase price levels and RGDP, but decrease inflation rates and unemployment rates
b. increase price levels, RGDP, inflation rates, and unemployment rates
c. decrease price levels, RGDP, inflation rates, and unemployment rates
d. decrease price levels, inflation rates, and unemployment rates, but increase RGDP
Comparing a set of feasible alternatives and picking the best one is an optimization process called _________.
A. statistical inference B. likelihood estimation C. cost-benefit analysis. D. normative analysis.