Our capital account balance in 2009 was a
A. surplus of about $500 billion.
B. surplus of about $400 billion.
C. deficit of about $500 billion.
D. deficit of about $700 billion.
B. surplus of about $400 billion.
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The following table contains the actual prices charged by four Web sites for the PlayStation 4 game Call of Duty; Black Ops III in November 2015
Target $59.99 Walmart 59.00 Best Buy 59.99 GameStop 59.99 Explain whether the information in this table contradicts the law of one price.
Inventory levels unexpectedly rise and as a result firms reduce the level of production. Which of the following is consistent with these two occurrences?
A) TP is greater than TE. B) TP is less than TE. C) TP is equal to TE. D) TP is equal to TE minus the rise in inventories above the optimum inventory level. E) none of the above
Which of these is an example of depreciation?
(A) A clothing store owner reduces the price of a belt by $10 to encourage sales. (B) A worker's truck breaks down more often after 80,000 miles of driving. (C) An employer fires a worker for repeatedly arriving late to work. (D) A share of stock declines in value over several months.
In an effort to balance the budget, the government cuts spending rather than increasing taxes. What will happen to the consumption schedule?
A. It will become steeper. B. It will become flatter. C. It will shift upward. D. It will shift downward. E. It will remain the same and move along it.