In recent years the United States has run persistent deficits in its balance on the current account
a. True
b. False
Indicate whether the statement is true or false
True
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If production involves increasing opportunity cost, then on the production possibilities frontier, moving to a point closer to the horizontal axis will increase the opportunity cost of
A. the good that is shown on the horizontal axis. B. the good that is shown on the vertical axis. C. both of the goods shown on the axes. D. neither of the goods shown on the axes.
Industries that are extremely sensitive to the business cycle are the
A) durable goods and service sectors. B) nondurable goods and service sectors. C) capital goods and nondurable goods sectors. D) capital goods and durable goods sectors.
A concentration ratio
a. measures the percentage of total sales of the top firm in the industry. b. reflects the level of competition in an industry. c. is inversely related to the price charged by the top firm in the industry. d. All of the above are correct.
India's economic reforms began in
A) 1960. B) 1978. C) 1991. D) 1998.