In 2014, China had accumulated $3.8 trillion worth of reserve assets. These $3.8 trillion entered into China's balance of payments in the:
a. The total amount did not enter into China's balance of payments. Only changes enter the balance of payments.
b. Reserve Account.
c. Trade balance.
d. Balance on goods and services.
e. Financial Account.
.A
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A firm in a price-taker market:
a. must take the price that is determined in the market. b. must reduce its price if it wants to sell a larger quantity. c. must be large relative to the total market. d. can exert a major influence on the market price.
When the Fed engages in contractionary monetary policy, which of the following happens after the money supply is decreased?
a. RGDP increases. b. The quantity of services demanded increases. c. Interest rates increase. d. Investment is less costly.
The exclusive rights of ownership that allow the use, transfer, and exchange of property are called
A) common property rights. B) private property rights. C) transaction costs. D) social benefits.
A firm combines two resources, X and Y, to produce an output level Q in a purely competitive market. The cost of a unit of X is $20 and the cost of a unit of Y is $4. The marginal product of X is 100 units and the marginal product of Y is currently 16
units at output level Q. What would you recommend that the firm do given this resource combination? What will be an ideal response?