A surplus in a country's balance of trade occurs whenever the country
A. has money outflows that exceed its money inflows.
B. refrains from trade with OPEC countries.
C. exports more goods than it imports.
D. imports more financial capital than it exports.
C. exports more goods than it imports.
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The financial crisis occurred in 2008 in large part because of losses on securities consisting of bundles of mortgage loans known as
A) home loan loss reserves. B) credit default swaps. C) mortgage-backed securities. D) naked put options.
Suppose that Rihanna sells 1,000 tickets to a concerts at $480 each. If the equilibrium price is $600 per ticket for a fixed supply of 1,000 tickets, what is the value of the additional economic rent that Rihanna could earn if she charged the market
clearing price? A) $1,080,000 B) $120,000 C) $600,000 D) $480,000
A major factor contributing to the slow growth rate of less-developed economies is
A) the lack of well-defined and enforceable property rights. B) the lack of natural resources. C) the lack of workers. D) the high rate of illiteracy.
Any output combination along a production possibility frontier is associated with overused or unattainable resources
Indicate whether the statement is true or false