When Americans build a factory in Costa Rica, the transactions associated with this factory are recorded in the ________ of the U.S. balance of payments
a. current account
b. capital account
c. balance of trade
d. export of services
e. none, because it does not involve U.S. dollars
B
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Refer to the following graph. Which of the following statements is true?
a. Equilibrium is shown at point A.
b. When the price is $13.50 a shortage exists.
c. When the price is $11.50 a surplus exists.
d. If the price is currently $11.00 then the price will fall over time.
Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics reports or 1 sales call, which of the following would NOT be a mutually agreeable terms of trade for Sandy and Tim?
A) 1 economics report for 1 sales call B) 1 sales call for 3 economics reports C) 1 sales call for 4 economics reports D) 1 economics report for 1/4 of a sales call
When RBC economists compare the volatility in their models to the data, what are they looking at?
A) The degree to which variables lead output over the business cycle B) The strength of procyclicality of different variables C) The amount of random variation in economic variables D) The degree to which different economic variables move together
Output per person on a country level is another way to think about:
A. real GDP per capita. B. nominal GDP. C. productivity. D. GDP growth rates.