When a U.S. resident increases her holdings of a foreign financial asset, this item is recorded as a
A. debit entry in the U.S. current account.
B. credit entry in the U.S. current account.
C. credit entry in the U.S. financial account.
D. debit entry in the U.S. financial account.
Answer: D
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From an economic standpoint, the amount of pollution should be
A) zero. B) the amount that allows firms to maximize profits. C) the amount where firms are earning a normal rate of return on investment. D) at the point at which the marginal benefit from further reduction equals the marginal cost of further reduction.
Refer to the budget line shown in the diagram above. If the consumer's money income is $20, the:
A) prices of C and D cannot be determined. B) price of C is $2 and the price of D is $4. C) consumer can obtain a combination of 5 units of both C and D. D) price of C is $4 and the price of D is $2.
The opportunity cost of owner-provided labor is the
A. profit after all of the bills have been paid. B. salary the owner could have made if she worked at her best alternative job. C. explicit part of the wage rate paid to the owner. D. wage rate paid to the owner.
A monopolist charges $7 per unit for selling 6 units of his product. To sell 7 units, he reduces price to $6.5 per unit. The marginal revenue (net addition to revenue) from selling the seventh unit is then $3.5
Indicate whether the statement is true or false