Which of the following activities would impact service exports in the U.S. balance of payments?
a. An Australian resident buys an American-made automobile.
b. The U.S. government sends humanitarian aid to Pakistan.
c. A French firm hires a U.S. resident to design a building in Paris.
d. The Netherlands imports airplane parts from the United States.
c. A French firm hires a U.S. resident to design a building in Paris.
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What three conditions must hold for a firm to successfully price discriminate?
What will be an ideal response?
How do the three basic economic questions relate to the firm?
What will be an ideal response?
One way that countries can settle international payment obligations is
A) to run a balance of payments surplus. B) to run a balance of payments deficit. C) to use special drawing rights. D) to stop trading.
Refer to the following graph.
The perfectly competitive firm depicted is currently:
A. incurring a loss, but the loss is smaller than it would be if the firm shut down. B. earning positive economic profit. C. earning zero economic profit. D. incurring a loss that is larger than total fixed cost, and so the firm should shut down.