The account that shows international transactions involving currently produced goods and services is called the
A) trade balance.
B) current account.
C) balance of payments.
D) capital account.
B
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If you know the price of a monopsonist's output and the marginal physical product of labor, what else do you need to know in order to calculate the return to monopsony power?
a. d and e b. c, d, and e c. marginal labor cost d. wage rate e. number of workers
The congressional act passed in 1946 that contained the first official statement of goals for economic performance in the United States was the
A) Federal Reserve Act. B) Gramm-Rudman Act. C) Employment Act. D) Humphrey-Hawkins Act.
In a monopsonistic market
A) employment is lower but wages are higher than in a comparable competitive market. B) employment is higher but wages are lower than in a comparable competitive market. C) both employment and wages are higher than in a comparable competitive market. D) both employment and wages are lower than in a comparable competitive market.
If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?
A. $450. B. $400. C. $5,000. D. $550.