Which of the following is an example of a surplus item on the balance of payments?
A) private gifts to foreign residents
B) public gifts to foreign residents
C) interest receipts from foreign residents
D) purchases of gold from foreign residents
C
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What is a Nash equilibrium? Is this equilibrium necessarily the best outcome for the players? Give an example
What will be an ideal response?
In both price-taker and competitive price-searcher markets, when an increase in market demand disrupts a long-run equilibrium, it will lead to
a. higher short-run prices and long-run profits. b. higher short-run prices, short-run profits, and the entry of additional firms into the market. c. higher short-run prices and the exit of firms from the market due to economies of scale. d. no change in prices in the short run, but new firms will enter in the long run.
Which of the following is an accurate statement about economists?
a. Economists emphasize all evidence to the same degree. b. Economists who try to be objective usually have some bias in their studies. c. Economists who try to be objective can be value free. d. Economists often base their conclusions on conjecture.
One way investment banks differ from commercial banks is that investment banks
A) lend exclusively to households. B) do not take in deposits. C) only buy and sell mortgages. D) trade only in foreign exchange markets.