National wealth is the value of
A. net foreign assets.
B. domestic and foreign physical and financial assets.
C. domestic physical and financial assets.
D. domestic physical assets plus net foreign physical and financial assets.
Answer: D
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Suppose that for Mali, the marginal utility of a steak sandwich is 40 utils, and the marginal utility of a chicken parmesan sandwich is 30 utils. The price of steak sandwich is $6.00. The price of a chicken parmesan sandwich is $4.50. What can you conclude from this information?
a. Mali will be more inclined to purchase a steak sandwich. b. Mali will be more inclined to purchase a chicken parmesan sandwich. c. Mali is in consumer equilibrium regarding steak and chicken parmesan sandwiches. d. Mali cannot rationally decide which sandwich to buy.
Maintaining a strong dollar in international currency markets is not one of the four monetary policy goals of the Fed listed in the textbook
Indicate whether the statement is true or false
The primary assets of the Fed are
A) discount loans and reserves. B) discount loans and government securities. C) government securities and reserves. D) discount loans and open market operations.
If the firms in a monopolistically competitive industry are earning short-run profit, which of the following is not likely to occur in the long run?
a. New firms will enter the industry. b. New firms in the industry will draw customers away from existing firms. c. Existing firms in the industry will face a decrease in demand. d. Firms will continue to earn profit. e. Firms will produce with some excess capacity.