Other things being equal, an increase in U.S. interest rates would be likely to cause an increase in the capital account surplus or a decrease in the capital account deficit
a. True
b. False
Indicate whether the statement is true or false
True
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The United States exports a good if its no-trade U.S. price is ________ its world price. With international trade, U.S. production of the good ________ compared to the level of no-trade production
A) the same as; does not change B) lower than; increases C) the same as; increases D) higher than; increases E) higher than; does not change
Which of the following statements is correct?
a. Vertical equity is the idea that taxpayers with similar abilities to pay taxes should pay the same amount. b. Horizontal equity is the idea that taxes should be levied on a person according to how well that person can shoulder the burden. c. A regressive tax would mean that high-income tax payers pay a larger fraction of their income in taxes than would low-income taxpayers. d. A proportional tax would mean that high-income and low-income taxpayers pay the same fraction of income in taxes.
In a long-run equilibrium, a firm in a monopolistically competitive market operates
a. where marginal revenue is zero. b. where marginal revenue is negative. c. on the rising portion of its average total cost curve. d. on the declining portion of its average total cost curve.
In the prisoners' dilemma game with Bonnie and Clyde as the players, the likely outcome is one
a. in which neither Bonnie nor Clyde confesses. b. in which both Bonnie and Clyde confess. c. that involves neither Bonnie nor Clyde pursuing a dominant strategy. d. that is ideal in terms of Bonnie's self-interest and in terms of Clyde's self-interest.