The unilateral transfers category in the current account refers to
a. money sent from one country to another without anything being exchanged in return
b. money sent from one country to another with goods being exchanged in return
c. goods sent from one country to another without anything being exchanged in return
d. goods sent from one country to another with money being exchanged in return
e. services sent from one country to another without anything being exchanged in return
A
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Use the following table to answer the question below.Price per UnitQuantity Demanded per YearQuantity Supplied per Year$52,0000101,800300151,600600201,400900251,2001,200301,0001,500A surplus of 500 units will occur when the price is
A. $30 per unit. B. $15 per unit. C. $20 per unit. D. $10 per unit.
Given the availability of California oranges, demand for Florida oranges will
a. be less elastic than if there were no California oranges b. be more elastic than if there were no California oranges c. have the same elasticity as it would if there were no California oranges d. be perfectly elastic e. be perfectly inelastic
When demand is inelastic
A. the proportional change in quantity demanded is equal to the proportional change in price. B. quantity demanded is very responsive to a change in price. C. quantity demanded is not very responsive to a change in price. D. producers react quickly to price changes.
Answer the following statements true (T) or false (F)
1) Demand shocks may be positive or negative. 2) "Supply shocks" occur any time there is a change in the supply of goods and services. 3) Economists believe that most short-run fluctuations in output are the result of supply shocks. 4) Demand shocks cause problems in the macroeconomy primarily because prices are sticky.