Which of the following are the constituent accounts of the Balance of Payments?
(a) Current account, deposit account and capital account;
(b) Trade account, merchandise account and overdrafts;
(c) Current account, capital account and financial account;
(d) Financial account, primary account and secondary account.
Answer: (c) Current account, capital account and financial account;
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The marginal cost curve of a firm measures
A) external costs. B) pollution costs. C) private costs. D) social costs.
European Union labor costs exceed U.S. and British labor costs primarily because
a. worker productivity is lower in the EU b. union wages are higher in the EU c. layoffs and plant closings are more restrictive in the U.S. and Britain d. the amount of paid time off is higher in the EU e. labor-management relations are better in the EU
If government increases its purchases by $20 billion and the MPC = 0.9, the resulting increase in the consumption component of AD is: a. $2 billion
b. $18 billion. c. $180 billion. d. $200 billion.
Which of the following transactions is included in Gross Domestic Product?
A. a gift card that a mother gives her son B. a Social Security check received by a retiree C. tips received by a waitress who reports them to the IRS D. a used textbook that one student gives another student in exchange for a pair of headphones