If the World Bank lends $10 million to the government of Fiji to develop new sugar cane fields, that would be seen on Fiji’s international balance of payments as a
a. unilateral transfer.
b. settlement account entry.
c. financial account entry.
d. service transaction in the current account.
c. financial account entry.
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A duopoly occurs when ________
A) there are only two producers of a particular good competing in the same market B) there are two producers of two goods competing in an oligopoly market C) there are numerous producers of two goods competing in a competitive market D) the one producer of two goods sells the goods in a monopoly market
The Federal Reserve System is
a. controlled by the Department of the Treasury. b. the central bank for the United States. c. completely similar to the Bank of England. d. All of the above are correct.
An increase in aggregate demand is most likely to result in
a. inflation. b. recession. c. economic stagnation. d. a decrease in real GDP.
Caroline sharpens knives in her spare time for extra income. Buyers of her service are willing to pay $2.95 per knife for as many knives as Caroline is willing to sharpen. On a particular day, she is willing to sharpen the first knife for $2.00, the second knife for $2.25, the third knife for $2.75, and the fourth knife for $3.50 . Assume Caroline is rational in deciding how many knives to
sharpen. Her producer surplus is a. $0.95. b. $1.15. c. $1.30. d. $1.85.