Which of the following terms means that the country is a net lender abroad?
a. current account surplus
b. current account deficit
c. trade surplus
d. trade deficit
a. current account surplus
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The portion of a government's indebtedness owed to foreigners is
A. external debt. B. internal debt. C. not recoverable. D. net debt.
The banking system of the United States is a fractional reserve system. What dangers does this pose for the safety of the banking system?
Suppose many new brands start selling coffee in an economy, increasing the options that consumers have for coffee. This will result in: a. a decrease in the elasticity of demand for every brand of coffee. b. an increase in the elasticity of demand for every brand of coffee. c. zero elasticity of demand for every brand of coffee
d. an infinite elasticity of demand for every brand of coffee.
Which of the following is not generally considered a market failure?
a) public goods b) missing markets c) the undesirable distribution of income d) monopoly e) allocation of resources based on price