A graph illustrating how one variable changes over time is a Cartesian coordinate system.
Answer the following statement true (T) or false (F)
False
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For the following question assume the following facts:
(1 ) Balance of Payments = 0 prior to the transactions. (2 ) Person A (who lives in the United States) purchases an airplane from British Airways for $150,000. (3 ) Person A pays with a check from his account at First Union Bank in the United States. (4 ) British airways, since it will need dollars in 1 month, deposits the check at the Bank of England. (5 ) Bank of England deposits the $150,000 at Commonwealth bank, which is located in the United States. Due to the transactions above, what are the effects on the balance of payments? A) -$150,000 due to import of good (current account debit) B) +$150,000 due to import of good (current account credit) C) -$150,000 due to deposit of Bank of England (capital account debit) D) +$150,000 due to deposit of Bank of England (capital account credit) E) No effect (150,000 current account debit and 150,000 capital account credit)
The prisoners' dilemma is a game in which
A) the dominant strategy for all participants is to choose a strategy that makes them all worse off. B) the dominant strategy is to cooperate. C) only one of the firms is able to make above-normal profits. D) each firm, in making decisions on the basis of its own self-interest, also makes decisions that benefit the group as a whole.
The Earned Income Tax Credit
a. tends to increase income inequality. b. is a program that provides additional income to workers with above-average incomes. c. tends to reduce income inequality. d. is both a and b.
If the market for shoe stores is taking a large economic loss, which of the following would most likely be a direct consequence?
a. Various shoes stores will enter the market. b. Various shoe stores will leave the market. c. Various jewelry stores will enter the market. d. Various jewelry stores will leave the market.