In the balance of payments, the buying and selling of real and financial assets is represented in
A. official reserve transactions account.
B. current account.
C. labor account.
D. financial account.
Answer: D
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Recall the Application. If the decrease in price of illegal drugs is due to equal changes in demand and supply, the equilibrium quantity of drugs
A) will increase. B) will decrease. C) will not change. D) may or may not change.
What is the definition of the unemployment rate? How are part-time workers and discouraged workers treated when calculating the unemployment rate?
What will be an ideal response?
The above figure shows the demand and cost curves for a monopolistically competitive firm in the long run. The firm has excess capacity of
A) 4 units. B) 8 units. C) 16 units. D) $10.
What is the difference between real GDP per worker and real GDP per effective worker?
What will be an ideal response?