The official reserve transactions balance in the United States balance of payments accounts is
a. reflects the difference between government spending and total taxes.
b. negative if a current account deficit exceeds a capital account surplus.
c. positive if a current account deficit exceeds a capital account surplus.
d. none of the above
C
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Which of the following is likely to use the concepts of game theory?
A) Deciding on how much to spend on monthly groceries B) Exit decision of competitive firms in the long run C) International trade negotiation D) Pricing decision of a firm operating in a competitive market
Because of asymmetric information, most used cars that are offered for sale will be sold for prices that are greater than their true value. Because of this fact, the used car market falls victim to
A) the free-rider problem. B) adverse selection. C) deadweight loss and economic inefficiency. D) a surplus of used cars.
The rate-of-return regulated public utility can have incentive to use more capital than is efficient relative to other inputs
Indicate whether the statement is true or false
Assume that the labor market is perfectly competitive. An increase in the productivity of labor
A) causes the marginal factor cost of labor to decrease. B) generates a lower wage rate. C) causes an increase in the demand for labor. D) causes a reduction in the demand for labor since each worker is now more productive.