The Balance of Payments
A summary of a nation’s inflows and outflows made by individuals, firms, and governments.
The Balance of Payments is made up of two accounts, the current account, which is also called the Balance of Trade, and the Capital Account.
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________ behavioral assumption about humans was that people usually act in a rational, self-interested way
A) Adam Smith's B) Janet Yellen's C) Karl Marx's D) Thomas Malthus's
Suppose that M is fixed. According to the quantity equation, which of the following would make the price level higher?
a. Y or V rise b. Y or V fall c. Y rises or V falls d. Y falls or V rises
Consider an auction with 1,000 risk-neutral bidders. It is known that these bidders have affiliated values. Based on this information, we know the expected revenues for the different auction types will be:
A. First-price, sealed-bid > Second-price, sealed-bid > English > Dutch. B. First-price, sealed-bid = Dutch > English > Second-price, sealed-bid. C. English > Second-price, sealed-bid > First-price, sealed-bid = Dutch. D. English = Second-price, sealed-bid = First-price, sealed-bid = Dutch.
Investors face the risk that the economy could go into another recession. This risk is:
A. Idiosyncratic B. Diversifiable C. Systemic D. Time preference