Which of the following is NOT a category in the U.S. balance of payments account?
A) current account
B) past-due account
C) capital account
D) official reserve transactions account
B
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The government can use taxes to
A) change production in a market with an external cost to the efficient amount. B) change production in a market with an external benefit to the efficient amount. C) increase production. D) decrease price.
The text shows that income elasticity for books is 1.44 . This means that
a. books are income inelastic b. books are price inelastic c. there's a 144 percent increase in book sales when income rises 10 percent d. there's a 44 percent increase in book sales when income rises 10 percent e. there's a 1.44 percent increase in book sales when income rises 1 percent
When unions successfully raise wage rates,
a. the employer must cut benefits b. fewer workers may be employed c. there is decreasing pressure for workers to join the market d. a strike occurs e. the monopsony keeps the same return to monopsony power
The accompanying table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15. Number of Car Washes Per MonthTotal Monthly Benefit from Car Washes0$01$202$363$484$565$60 What is the marginal cost of the 5th car wash each month?
A. $15 B. $12 C. $14 D. $4