The financing of U.S. import transactions, ceteris paribus
A) reduces U.S. interest rates.
B) increases the amount of foreign currency held by the Fed.
C) increases U.S. GDP.
D) decreases the amount of foreign currency held by U.S. banks.
Answer: D
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Specialization in production
A. raises productivity. B. requires money. C. stimulates exchange. D. All of the responses are correct.
A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a store building that he owns and currently rents to his brother for $6,000 a year. His expenses at the sushi bar would be $50,000 . for food and $2,000 for gas and electricity. What are his implicit costs?
a. $26,000. b. $66,000. c. $78,000. d. $52,000. e. $72,000.
Which of the following is the largest source of revenue for the federal government?
a. corporate income tax b. payroll tax c. personal income tax d. user charges
Briefly and concisely define the following terms and explain their importance in the study of economics. a. excess capacity theorem b. price leadership c. kinked demand curve d. perfectly contestable market
What will be an ideal response?