Which of the following transactions would be included in Japan's current account?
A) A Japanese citizen purchases 50 shares of Google stock.
B) An American citizen purchases a new Toyota made in Japan.
C) A Japanese citizen purchases a new Toyota made in Japan.
D) An American citizen purchases 50 shares of Toshiba stock.
B
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Refer to Figure 12-12. Consider a typical firm in a perfectly competitive industry that makes short-run profits. Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?
A) Panel A B) Panel B C) Panel C D) Panel D
Figure 9-4
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In Figure 9-4, which expenditure level will result in a recessionary gap?
A. 1 B. 2 C. 3 D. There will be no deflationary gap.
The cost of processors and memory has decreased dramatically in the past twenty-five years. As a result, we have seen
a. an increase in demand. b. an increase in supply. c. a decrease in demand. d. a decrease in supply.
In the long run, a decrease in the money supply growth rate
a. increases inflation and shifts the short-run Phillips curve right. b. increases inflation and shifts the short-run Phillips curve left. c. decreases inflation and shifts the short-run Philips curve right. d. decreases inflation and shifts the short-run Phillips curve left.