In the long run, imports are paid for by
A) investment.
B) exports.
C) dollars.
D) gold or other universally accepted monies.
Answer: B
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In an extensive-form game, payoff to a player is usually higher if ________
A) he follows a pure strategy B) he follows a mixed strategy C) he is the first mover D) he is the second mover
When macroeconomics refers to "full employment," what do they mean?
a. Full employment occurs when the unemployment rate equals zero. b. Full employment occurs when there is only frictional unemployment, and all other types of unemployment have been eliminated. c. Full employment occurs when there is only structural unemployment, and all other types of unemployment have been eliminated. d. Full employment occurs when there is only frictional unemployment, structural, and cyclical unemployment has been eliminated.
Which of the following is an accurate statement about velocity?
a. It is rarely stable for long periods. b. It remains constant. c. It moves in a predictable way. d. It is determined by multiplying price level by money supply.
Which of the following is the best example of a perfectly competitive firm?
A. DeBeers Diamond Company B. your local cable television company C. Tino's Italian Eatery, a local restaurant D. Jones's wheat farm in eastern Washington