A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the following transactions except:
A. sell foreign currency resulting from the exports of manufactured t-shirts.
B. sell foreign currency resulting from the sale of a U.S. treasury bond.
C. purchase foreign currency in order to import a BMW.
D. purchase foreign currency in order to purchase a U.S. treasury bond.
Answer: D
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In an economy without international trade, we can expect total output to equal
a. consumption spending plus investment spending plus government purchases b. consumption spending minus leakages c. the sum of leakages and injections d. consumption spending plus investment spending e. total spending minus leakages and injections
When a monopolist reduces the quantity of output it produces and sells, the
a. price of its output increases. b. price of its output remains constant. c. price of its output decreases. d. profits for the firm always decrease.
Which of the following accurately describe where long-run equilibrium happens in the monopolistically competitive firm?
a. At P and q*, long-run demand equals average marginal cost and long-run marginal revenue equals total cost.
b. At 0 and q*, long-run demand equals average total cost and long-run marginal revenue equals marginal cost.
c. At P and q*, long-run demand equals average total cost and long-run marginal revenue equals marginal cost.
d. At 0 and q*, long-run demand equals average marginal cost and long-run marginal revenue equals total cost.
Answer the following statements true (T) or false (F)
1. The Patient Protection and Affordable Care Act (PPACA) bans the previous practice of insurance companies to deny coverage based on preexisting conditions. 2. One way that the Patient Protection and Affordable Care Act (PPACA) hope to foster competition among health insurance companies is through so-called insurance exchanges. 3. The Patient Protection and Affordable Care Act (PPACA) will set up so-called insurance exchanges where consumers can compare various insurance policies that meet certain government-set standards. 4. One of the taxes included the Patient Protection and Affordable Care Act (PPACA) to generate revenue is a tax on junk food.