Refer to the given data. The U.S. balance on goods and services is a:
The following table contains hypothetical data for the 2012 U.S. balance of payments. Answer the question on the basis of this information. All figures are in billions of dollars.
A. $10 billion deficit.
B. $20 billion deficit.
C. $30 billion surplus.
D. $30 billion deficit.
D. $30 billion deficit.
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If a perfectly competitive firm can sell each unit of output for $9, and the marginal cost of the last unit produced is $8.50, then the:
A. firm should lower its output level in order to increase profits. B. extra benefit of the last unit produced is less than the extra cost. C. firm is earning an average profit of $0.50. D. extra benefit of the last unit produced is greater than the extra cost.
Decreases in the NAIRU represent a:
A) leftward shift in the aggregate demand curve. B) leftward shift of the long-run aggregate supply curve. C) rightward shift of the long-run aggregate supply curve. D) rightward shift in the aggregate demand curve.
If there is a recession, the Fed would most likely:
a. encourage banks to provide loans by lowering the discount rate. b. encourage banks to provide loans by raising the discount rate. c. restrict bank lending by lowering the discount rate. d. restrict bank lending by raising the discount rate. e. restrict bank lending by lowering the federal funds rate.
When a country's current account balance is added to its capital account balance, the sum should be:
A. positive. B. zero. C. negative. D. twice the current account.