All of the following are surplus items in the balance of payments EXCEPT
A. purchases of foreign assets.
B. foreign tourist expenditures.
C. exports of merchandise.
D. funds deposited in this country by foreign residents.
Answer: A
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Profit maximization depends upon demand conditions, as well as upon productivity and costs
a. True b. False
Suppose a vote was taken among 7 district representatives about how much of the city budget should be spent on tourism advertising. Two prefer it to be 10 percent, two prefer 15 percent, and three prefer 50 percent. According to the median voter theorem, the chosen amount to spend on tourism advertising is ______ of the budget.
A. 10 % B. 15 % C. 50 % D. 30 %
The General Agreement on ___________ and Trade (GATT) was established to provide a forum in which nations could come together to negotiate reductions in tariffs and other barriers to trade.
a. Travel b. Taxes c. Tariffs d. Transfers
The data on hyperinflation show a clear link between the quantity of money and
a. the price level. b. growth rate of GDP. c. unemployment rate. d. velocity.