Which of the following is not included as net income in the U.S. balance of payments?
a. Foreign dividends received by U.S. residents.
b. Profits earned by U.S. companies from foreign operations and reinvested abroad.
c. U.S. interest paid to foreigners.
d. Income paid by a U.S. company to foreign consultants.
e. All the above are included as net income in the U.S. balance of payments.
.E
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The purchase of $1 million of Treasury securities by the Federal Reserve, if there is no change in the quantity of currency, will cause reserves at banks to
A) increase by $1 million. B) decrease by less than $1 million. C) decrease by $1 million. D) increase by less than $1 million.
A decrease in the dollar price of the English pound will make
a. U.S. exports to England increase. b. U.S. exports less expensive for the English. c. imports from England more expensive for Americans. d. U.S. exports to England decrease.
Costs increase with output in an increasing-cost industry because:
A. input prices increase as the industry competes for scarce resources. B. firms may be forced to use less productive inputs. C. the firms become monopolies. D. Both input prices increase as the industry competes for scarce resources and firms may be forced to use less productive inputs are correct.
Which of the following is less sensitive to interest rate changes?
A. Utility industries. B. State and local finances. C. The residential housing market. D. Food and other household items.