In the foreign exchange market, the quantity supplied of dollars is 600 whereas the quantity demanded of dollars is 400 results in a:
A) balance of payments surplus of 200.
B) balance of payments deficit of 200.
C) balance of payments surplus of -200.
D) balance of payments deficit of -200.
B
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Which of the following are included in interest income? i. payments made for the use of land ii. income paid to households for loans they make iii. payments made by households for their borrowing
A) i, ii and iii B) ii and iii only C) i and ii only D) ii only E) iii only
Economists describe short-run decisions as "constrained" decisions, while long-run decisions are described as "planning" decisions. Referring to a firm's short-run average cost function and long-run average cost function, explain this
What will be an ideal response?
Marginal profit is the profit
A. earned by a firm that is about to go out of business. B. calculated directly from the total cost curve. C. that is added by a one-unit increase in total output. D. earned for each dollar of cost increase.
A monopsonist that wants to hire more labor must pay more for the new labor than it is currently paying and increase the wage rate of all existing employees because
A) the demand curve for labor is inelastic. B) of labor unions. C) the supply of labor is upward sloping. D) of competition in the labor market.