Compared to Latin America in the 1980s, East Asian countries in the 1990s had
a. higher budget deficits and higher current account deficits
b. lower budget deficits and lower current account deficits
c. higher budget deficits and lower current account deficits
d. lower budget deficits and higher current account deficits
e. similar budget and current account deficits
B
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A key characteristic of a competitive market is that
a. government antitrust laws regulate competition. b. producers sell nearly identical products. c. firms minimize total costs. d. firms have price setting power.
The Federal Reserve could increase the money supply by:
a. Raising the discount rate b. Buying government bonds on the open market c. Raising interest rates d. Selling government bonds on the open market
Use the following graph for a perfectly competitive firm to answer the next question.
The firm's short-run supply curve is
A. the "cd" segment and above on the MC curve. B. the "abcd" segment and above on the MC curve. C. not shown. D. the "bcd" segment and above on the MC curve.
A school teacher gets paid today in money, but plans to spend the money in six months on a vacation. This illustrates which function of money?
A) medium of exchange B) store of value C) standard of value D) serving as a commodity