In the balance of payments, the buying and selling of real and financial assets is represented in
A) current account.
B) financial account.
C) labor account.
D) official reserve transactions account.
Answer: B
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In a small Asian country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $600. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.06 B) 6.6 C) 66.6 D) 666
The aggregate supply curve represents levels of output that producers are willing to sell at
A) each level of the real interest rate. B) each level of real GDP. C) each price level. D) each inflation rate.
Which type of property would be the most likely to experience pollution?
A) common property B) private property C) property held in partnership D) corporate property
If the price of a product increases:
A. Consumer surplus will decrease B. Consumer surplus will increase C. Total revenue will definitely increase D. Total revenue will definitely decrease