Net unilateral transfers would appear in a nation's
A. capital account.
B. official reserve transaction account.
C. financial account.
D. current account.
Answer: D
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When an asset enables people to transfer purchasing power into the future it serves the function of a ________
A) store of value B) unit of account C) means of deferred payment D) medium of exchange
If Jeff's wage rate rises, he decides to work more hours. From this, we can infer that
A) for Jeff, the substitution effect is greater than the income effect. B) for Jeff, the substitution effect is equal to the income effect. C) for Jeff, the substitution effect is less than the income effect. D) Jeff is confused.
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Relative to point X, at point Y:
A. more skirts and fewer dresses are produced. B. more dresses and fewer skirts are produced. C. more dresses and more skirts are produced. D. fewer skirts and fewer dresses are produced.
The demand curve for on-demand videos has shifted to the right. What could have caused it?
A) A fall in the price of on-demand videos. B) An increase in the price of on-demand videos. C) An increase in the supply of on-demand videos. D) An increase in the income of buyers.