Which of the following is correct?
a. Current account surplus + capital account surplus = 1
b. Current account surplus ? capital account surplus = 0
c. Current account surplus + capital account surplus = 0
d. Current account surplus ? capital account surplus = 1
c
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During periods of unemployment
A) the economy operates at a point inside the production possibilities curve. B) the economy operates at a point outside the production possibilities curve. C) the production possibilities curve shifts inward. D) the production possibilities curve shifts outward.
Suppose the demand for peaches decreases. What will happen to producer surplus in the market for peaches?
a. It increases. b. It decreases. c. It remains unchanged. d. It may increase, decrease, or remain unchanged.
Which of the following is the best example of an automatic stabilizer?
A. welfare payments B. foreign aid C. defense spending D. highway construction
What is the major difference between the long run and the short run in pure competition? Explain in terms of the number of firms and the flexibility of firms
What will be an ideal response?