Which of the following transactions is a debit in the US current account?
A) Export of merchandise
B) Export of services
C) Gifts to foreigners
D) Foreign bond purchases
C
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Which of the following is a similarity between a first-price sealed-bid auction and a Dutch auction?
A) Bids are placed privately in both the auctions. B) Bids are placed publicly in both the auctions. C) Bidders place their bids simultaneously in both the auctions. D) The winner pays an amount equal to his bid in both the auctions.
A firm that sells at a price below average cost is losing money.
Answer the following statement true (T) or false (F)
As shown in Exhibit 5-9, assuming goods X and Y are substitutes, an increase in the price of Y, other factors held constant, could move the equilibrium from point E to point:
a. A. b. B. c. C. d. D.
The study of economics would be superfluous if __________ did not exist
a. demand b. capital c. corporations d. profit e. scarcity