A U.S. firm exchanges dollars for yen and then uses them to buy Japanese goods. Overall as a result of these transactions
a. both U.S. net capital outflow and U.S. net exports rise.
b. both U.S. net capital outflow and U.S. net exports fall.
c. U.S. net capital outflow rises and U.S. net exports fall.
d. U.S. net capital outflow falls and U.S. net exports rise.
b
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In a prisoner's dilemma, the Nash equilibrium occurs where
A) neither person ends up with their best outcome. B) both end up with their best outcome. C) only one ends up with his best outcome. D) the one who goes first ends up with his best outcome.
Equilibrium price is _____ and equilibrium quantity is ______ units.
A. $12; 20
B. $12; 30
C. $20; 20
D. $20; 30
Suppose George's income is $10,000 and he pays a tax of $1,000, but Laura's income is $50,000 and she pays a tax of $4,000. Such a tax is:
A. regressive. B. progressive. C. proportional. D. flat.
A monopolistically competitive firm maximizes profit by producing where marginal revenue equals marginal cost.
Answer the following statement true (T) or false (F)