The current account
A) measures our exports minus our imports taking into account interest payments paid to and received from the rest of the world.
B) measures our imports minus our exports.
C) does not account for interest payments paid to and received from the rest of the world.
D) is part of GDP.
A
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The fact that money can be exchanged for goods reflects money's role as a
A) cause of inflation. B) medium of exchange. C) unit of account. D) store of value.
If the nominal exchange rate between the American dollar and the New Zealand dollar is 1.36 New Zealand dollars per American dollar, how many American dollars are required to buy a product that costs 3.50 New Zealand dollars?
A) $2.14 B) $2.24 C) $2.57 D) $4.76
If a profit-maximizing firm hires an additional unit of labor, what must be true about labor's wage and marginal revenue product?
a. Its wage always equals its marginal revenue product. b. Its wage is always greater than its marginal revenue product. c. Its wage is always total revenue minus marginal revenue product. d. Its wage is always less than or equal to its marginal revenue product.
The phenomenon that unusual events are likely to be followed by more nearly normal is known as:
A. regression to the mean. B. anchoring and adjustment. C. fungibility. D. the adaptive rationality standard.