"The balance of payments is seldom in balance in practice." Discuss
What will be an ideal response?
True. The main reasons are due to the fact that data collected or received from different sources may differ in coverage, accuracy, and timing. In addition, data on services are not reliable as well as data from the financial account. Moreover, accurate measurements of international interest and dividend receipts are particularly difficult.
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When the supply of a good increases, the quantity supplied at each price is increasing as well
Indicate whether the statement is true or false
In the short run, if a firm produces nothing, total costs are zero
a. True b. False Indicate whether the statement is true or false
What is the added factor that complicates an understanding of an individual’s labor supply curve?
a. wages b. hours c. salary d. leisure
Farmers withholding some of their current corn harvest from the market because they anticipate a higher price of corn in the near future would cause a
A. leftward shift in the current supply of corn. B. movement up along the current supply curve of corn. C. movement down along the current supply curve of corn. D. rightward shift in the current supply of corn.