All of the following components add up to the current account, except:
a. unilateral transfers.
b. statistical discrepancies.
c. services.
d. merchandise.
e. investment income.
b
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If there are five firms in a market and each has an equal market share, the Herfindahl-Hirschman Index (HHI) is ________.
A) 5,000 B) 100 C) 2,000 D) 2,500
Which of the following people is least likely to clip store coupons?
a. a retired person b. an unemployed person c. a low-income worker d. a high-priced consultant e. a graduate student on summer break
Economists have found evidence that differences in wages can be explained by
a. experience b. job characteristics c. physical attractiveness d. All of the above are correct.
One problem with using monetary policy to address "bubbles" in asset markets is that:
A. the Federal Reserve is better than financial-market professionals at identifying bubbles. B. the Federal Reserve is not interested in stabilizing output. C. reducing the real interest rate to deal with the bubble could lead to inflation. D. monetary policy is not a very good tool for addressing the problem of inappropriately high asset prices.