The current account includes all of the following accounts except
A) net transfers.
B) net exports.
C) net financial derivatives.
D) net factor payments.
C
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Which of the following statements is correct?
a. Government should tax goods with either positive or negative externalities. b. Government should tax goods with negative externalities and subsidize goods with positive externalities. c. Government should subsidize goods with either positive or negative externalities. d. Government should tax goods with positive externalities and subsidize goods with negative externalities.
To compute national income from GDP,
A. national income is first calculated, and then depreciation of capital and indirect business taxes are subtracted from it to get GDP. B. GDP is first calculated, and then gross private domestic investment is subtracted from it to get national income. C. GDP is first calculated, and then capital depreciation and proprietors' income are subtracted from it to get national income. D. GDP is first calculated, and then depreciation of capital is subtracted from it to get national income.
A firm hiring labor in a perfectly competitive labor market faces a:
A. downsloping labor supply curve and upsloping labor demand curve. B. upsloping labor supply curve and downsloping labor demand curve. C. upsloping labor supply curve and horizontal labor demand curve. D. horizontal competitive wage curve and downsloping labor demand curve.
Which of the following statements is false?
A. The price mechanism is most important under capitalism. B. The five-year plan was the main economic plan of the former Soviet Union. C. In most fascist economies, the means of production was left in private hands, with varying degrees of government interference. D. The main criticism of socialist countries is that they gave their citizens too many benefits.