Refer to the above table. The overall balance of payments of Nation "A" is
A) +85.
B) - 85.
C) 0.
D) +25.
C
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The indifference curves in the figure above (I1, I2, and I3 ) reflect Peter's consumption preferences
If Peter consumes 24 slices of pizza and 24 chocolate bars per month, he as satisfied as he would be consuming ________ slices of pizza and ________ chocolate bars per month. A) 48; 12 B) 40; 20 C) 32; 8 D) 16; 16
Suppose the government borrows to purchase military ammunition which is immediately used up in target practice. The rate of return on this investment is ________, and in this case the government debt ________ a burden on future taxpayers
A) r, is not B) r, is C) 0, is not D) -r, is not E) -r, is
Suppose the production of DVD players can be represented by the following production function: q = L0.4K0.4. Which of the following statements is TRUE?
A) The production function has decreasing returns to scale. B) The production function has increasing returns to scale. C) The production function has constant returns to scale. D) Returns to scale vary with the level of output.
The income elasticity of demand
A) is positive only. B) is negative only. C) must lie between -1 and +1. D) can be positive, negative, or zero.