When there is a negative entry for unilateral transfers in the balance of payments, it means that
A) there must be an offsetting positive sign in the financial account.
B) U.S. residents gave more to foreign residents than foreign residents gave to U.S. residents.
C) U.S. residents purchased less services from foreign countries than foreign countries purchased from U.S. residents.
D) U.S. residents purchased more services from foreign countries than foreign countries purchased from U.S. residents.
Answer: B
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Explain the economic idea that "people respond to incentives."
What will be an ideal response?
The Federal Register
A) itemizes state and local government spending. B) is used to track immigration. C) publishes all the new federal regulatory rules. D) has decreased in size.
A natural monopoly, such as the local telephone company, is characterized by
a. a lack of natural competitors b. low fixed costs and diseconomies of scale c. economies of scale d. a lack of government regulation e. constant costs of production
For a monopolist, at the profit-maximizing level of output price is:
A. equal to marginal cost. B. equal to marginal revenue. C. constant. D. chosen according to demand.