Suppose you own some German government bonds that pay you interest every year. This interest is entered into which of the balance of payments accounts?
A) trade account
B) interest account
C) current account
D) capital and financial account
E) official settlements account
C
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"A decrease in the price of tablet computers will decrease the demand for desktop computers." This statement is an example of a normative economic statement
Indicate whether the statement is true or false
If the market price is $40 in a perfectly competitive market, the marginal revenue from selling the fifth unit is
A) $8. B) $20. C) $40. D) $200.
Income inequality in the United States has increased somewhat over the past 25 years. Two factors that appear to have contributed to this are
A) rapid technological change and expanding international trade. B) strong economic growth and low inflation. C) tax cuts on high-income individuals and large increases in prices of stocks. D) outsourcing of jobs by U.S. firms and cuts in taxes on capital gains.
Ronald Reagan believed that reducing income tax rates would
a. do little, if anything, to encourage hard work. b. result in large increases in deadweight losses. c. raise economic well-being and perhaps even tax revenue. d. lower economic well-being, even though tax revenue could possibly increase.