Transaction deposits
A. are only deposits that you can check on through the Internet.
B. are deposits in a banking institution on which a check may be written.
C. are accounts that pay interest to the depositor.
D. include savings accounts.
Answer: B
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Which of the following has been confirmed by empirical tests of the Ricardian model?
A) All predictions of the model for a multi-product, multi-country world are highly unrealistic. B) The existence of nontraded goods results in a high degree of specialization among countries. C) International trade has no impact on income distribution. D) The unimportance of economies of scale as a cause of trade. E) Companies tend to export goods in which they have a relatively high level of productivity.
If a consumer is initially at an optimum, and then the price of Y falls, then
A. MUx/Px > MUy/Py B. MUx/MUy > Py/Px C. MUx/Px = MUy/Py D. MUx/Px < MUy/Py
The price of cookies in terms of gallons of milk per cookie is 0.6 and the price a gallon of milk in terms of pounds of butter per gallon is 1.2. What is the relative price of cookies to butter?
A) 1.39 B) 0.6 C) 0.72 D) 0.50
The balance of payments is divided into two major accounts, the
A. trade account and the capital account. B. current account and the capital account. C. current account and the reserve account. D. current account and the trade account.