Which of the following is NOT included in the U.S. current account?
A) U.S. investment abroad
B) net interest income
C) net transfers
D) imports of goods and services
A
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In a contestable market with one firm in the market, the existing firm will
A) set its price equal to the monopoly price. B) set its price lower than the monopoly price. C) set its price higher than the monopoly price. D) have a demand curve that is horizontal at the price that will attract new firms to enter the market.
A law that requires hairdressers to undergo many hours of training and acquire a license before they can offer haircuts to the public is an example of a
a. positive externality. b. natural monopoly. c. barrier to entry. d. public good.
Income redistribution:
a. reduces the reward for production behavior b. encourages socially wasteful rent seeking c. leads to higher tax rated d. all of the above
The value of the SDR is currently based on the ________.
A) euro B) U.S. dollar C) weighted average of four currencies D) weighted average of six currencies