Refer to Figure 19.3. At the exchange rate of 120 yen per dollar, the United States is experiencing a
A) balance of payments deficit. B) balance of payments surplus.
C) capital account deficit. D) current account surplus.
A
You might also like to view...
A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:Qd = 25,000 ? 5,000P + 25MQs = 240,000 + 5,000P ? 2,000PIwhere P is price, M is income, and PI is the price of a key input. The forecasts for the next year are 
= $15,000 and 
I = $20. Average variable cost is estimated to beAVC = 14 ? 0.008Q + 0.000002Q2Total fixed cost will be $6,000 next year. Suppose that income for next year is forecasted to be $9,000 instead. What is the revised price forecast for next year?
A. $ 5 B. $15 C. $ 3 D. $18 E. none of the above
An effluent fee
A. is a reward to companies using production methods that create positive externalities. B. is intended to influence the market by increasing supply and decreasing price. C. is also called a pollution subsidy. D. gives a firm the right to pollute if it pays a tax on what it discharges.
Positive analysis of economic policy
A. examines the economic consequences of policies and addresses the question of whether those consequences are desirable. B. generates less agreement among economists than normative analysis. C. is rare in questions of economic policy. D. examines the economic consequences of policies but does not address the question of whether those consequences are desirable.
If TR > TVC but TR < TC, a firm would ________ in the short run and ________ in the long run.
A. operate; expand B. shut down; expand C. shut down; exit the industry D. operate; exit the industry