The balance of trade is sometimes described as the balance of ______________.
a. shipments
b. payments
c. cash
d. exchange
b. payments
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The income—expenditure identity says that
A) Y = C + S + T. B) Y = C + I + G. C) Y = C + I + G + NX. D) Y = C + I + G + NX + CA.
Which of the following insurance practices attempts to minimize the adverse selection problem insurance companies face?
A) prevention of fraud B) risk-based premiums C) restrictive provisions D) deductibles
In the 1970s and early 1980s, the U.S. economy experienced
A) stagflation. B) low inflation and low unemployment. C) high inflation and low unemployment. D) high inflation and high unemployment. E) a and d
For a monopoly, a negative marginal revenue implies:
A. that the demand is price elastic. B. the quantity effect is larger than the price effect. C. the price effect is larger than the quantity effect. D. total revenues are increasing.