In 2009, we ran a ________ on our current account and a _______ on our capital account.
A. deficit; deficit
B. surplus; surplus
C. deficit; surplus
D. surplus; deficit
C. deficit; surplus
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The absolute value of the slope of the production possibilities frontier at the production point provides a measure of both the relative price of S in terms of T and the opportunity cost of producing one more units of S calculated in terms of output
of T foregone. Indicate whether the statement is true or false
Under adaptive expectations theory, a decrease in the short-run aggregate demand curve ____ the inflation rate and ____ the unemployment rate
a. increases; increases b. increases; decreases c. decreases; increases d. decreases; decreases
Instruments so widely accepted and purchased by others that they are very similar to cash are known as
a. liquid assets b. hard assets c. corporate assets d. marketable securities e. none of the above
Economic choice and competitive behavior are the result of
What will be an ideal response?