Which of the following is most likely to be an implicit cost for Company X?
A. Rental payments on IBM equipment
B. Transportation costs paid to a nearby trucking firm
C. Forgone rent from the building owned and used by Company X
D. Payments for raw materials purchased from Company Y
Answer: C
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Capital outflows in the balance of payments accounts include
a. purchases of financial assets by U.S. residents. b. direct investments in foreign countries. c. indirect investments in foreign countries. d. purchases of U.S. real estate by foreigners. e. all of the above
Which of the following is a benefit of economic growth?
A) reduction in illiteracy B) reduction in poverty C) improved health D) all of the above
The unexpected gain or loss of income that a person experiences that is the difference between a person's regular and actual income in any year is known as
a. life-cycle income b. relative income c. investment income d. permanent income e. transitory income
Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. Guatemala has
A. an absolute advantage in banana production. B. a comparative advantage in orange production. C. a comparative advantage in banana production. D. an absolute advantage in orange production.