In a nation's balance of payments, which one of the following items is always recorded as a positive entry?
A. Goods imports.
B. Changes in foreign currency reserves.
C. U.S. purchases of assets abroad.
D. Exports of services.
D. Exports of services.
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Suppose that the demand curve for desktop computers shifts rightward and at the same time the supply curve shifts leftward. Which of the following could have caused these shifts?
A) Desktop computers are a normal good and incomes increased, while more firms entered the market. B) The price of a laptop computer, a substitute for desktop computers, fell, and the cost of producing desktop computers decreased. C) Consumers purchased more computers because of the Christmas season, and the labor costs of producing desktop computers decreased. D) Desktop computers are a normal good and incomes increased, while the labor costs of producing personal computers increased. E) Desktop computers are a normal good and incomes decreased, while the labor costs of producing personal computers increased.
The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for Nick to obtain and sell an MP3 player is $12. If he receives 60% of the MP3 sales revenue, then
A) Nick will sell 38 MP3 players. B) Nick will sell 50 MP3 players. C) Nick will receive $270 as profit. D) total profit is $342.
Consider the market demand and supply given by the following: Qd=50 - P and Qs = 2.5 + 1.5P.
a) What is the equilibrium price and quantity? b) If the government sets a price floor of $25, what is the surplus/shortage? If the government buys the surplus, what would be the cost to the government?
A consumer's weekly income is $300 and the consumer buys 5 bars of chocolate per week. When income increases to $330, the consumer buys 6 bars per week. The income elasticity of demand for chocolate by this consumer is about:
A. 0 B. 0.5 C. 1 D. 2