IRA stands for Individual Retirement Asset
a. True b. False
b
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The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P. Suppose the economy is closed. The equilibrium price of a car is ________ and equilibrium quantity is____.
A. $8,000; 12,000 B. $6,000; 14,000 C. $12,000; 8,000 D. $10,000; 10,000
Suppose a consumer only purchases food and clothing, and food is plotted along the horizontal axis of the consumer's indifference map. If the price of food and clothing increase and income does not change, then the budget line changes by rotating:
A) counter-clockwise about the fixed vertical axis intercept. B) clockwise about the fixed vertical axis intercept. C) counter-clockwise about the fixed horizontal axis intercept. D) clockwise about the fixed horizontal axis intercept. E) none of the above
Capital accounts measure
a. the foreign asset holdings of a nation and that nation's asset holding abroad b. d and e c. changes in the foreign asset holdings of a nation and the difference between its exports and imports d. the difference between a nation's exports and imports e. changes in the foreign asset holdings of a nation and that nation's asset holdings abroad
GDP is equal to
a. the market value of all final goods and services produced within a country in a given period of time. b. Y. c. C + I + G + NX. d. All of the above are correct.