In the balance of payments, the settlement account
a. must exactly offset the net deficit or surplus in the other accounts.
b. often exceeds the net deficit or surplus in the other accounts.
c. is often less than the net deficit or surplus in the other accounts.
d. is unrelated to the net deficit or surplus in the other accounts.
a. must exactly offset the net deficit or surplus in the other accounts.
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Given a typical demand curve and a decline in price, the consumer who wishes to maximize total utility must increase the quantity purchased of a good to arrive at an optimal MU = P point.
Answer the following statement true (T) or false (F)
Refer to Table 9-3. Assume the market basket for the consumer price index has three products — Cokes, hamburgers, and CDs — with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A) 75. B) 93. C) 108. D) 121.
If the U.S. government removes tariffs it had placed on imports from countries that have been accused of deliberately undervaluing their currencies, the price of these imports will ________ and the demand for the undervalued currency will ________
A) fall; rise B) rise; rise C) rise; fall D) fall; fall
Economies of scale are also called increasing returns to scale
a. True b. False Indicate whether the statement is true or false