A country's balance of payments accounts records its
A) international exports and imports and nothing else.
B) international trading, borrowing, and lending.
C) tax receipts and expenditures.
D) tariffs and nontariff revenue and government purchases.
E) tariff receipts and what it pays in tariffs to other nations.
B
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If bundles of goods A and B lie on the same indifference curve, one can assume the individual
a. prefers bundle A to bundle B. b. prefers bundle B to bundle A. c. enjoys bundle A and B equally. d. bundle A contains the same goods as bundle B.
When people are fully informed about the choices that they and other relevant economic actors face, we say they:
A. will always be willing to go through with the transaction. B. will always try to hide that information to gain advantage. C. have relevant information. D. have complete information.
The desire to hold money for transactions purposes arises because:
A. receipts of income and expenditures are not perfectly synchronized. B. people fear that prices will rise. C. households want money on hand in case a good financial investment opportunity arises. D. low interest rates reduce the opportunity cost of holding money.
In the above figure, the economy would most likely move from AD1 to AD2 because of
A) an aggregate supply shock. B) an aggregate demand shock. C) a recession. D) a depression.