Suppose you study abroad in England. When you purchase books and food, these transactions should really be recorded as
A) credits to the capital account and debits to the current account.
B) debits to the capital account and credits to the current account.
C) debits to the capital account and debits to the current account.
D) credits to the capital account and credits to the current account.
A
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If the dollar depreciates against the Indian rupee
A) The value of Indian imports to the United States does not change. B) Indian imports to the U.S. become less expensive. C) U.S. exports to India become more expensive. D) U.S. exports to India become less expensive.
Second-degree price discrimination occurs when
A) different prices are charged for different blocks of services. B) different groups of buyers are charged different prices based on their price elasticities of demand. C) a different price is charged for each amount of a product purchased. D) None of the above
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
Which of the following reasons for making drug sales illegal do economists generally endorse?
A. That addictive drugs do not allow for people to learn from the mistake of taking them. B. The harm that addictive drugs do to innocent victims and that they do not allow for people to learn from the mistake of taking them. C. The harm they do to innocent victims. D. The harm they do to people who knowingly take them.