In the U.S. balance of payments account for a certain year, a positive number in the financial account means a:
A. net buildup of assets held by the U.S.
B. net reduction in the ownership of assets by U.S. interests.
C. buildup of total foreign debt.
D. reduction of total foreign debt.
B. net reduction in the ownership of assets by U.S. interests.
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The figure above shows the market for coffee. If more coffee plantations are planted in Brazil and Vietnam so that the supply of coffee increases, the efficient quantity of coffee will ________ and the consumer surplus will ________
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
In assessing the difference between monopoly performance and that of perfect competition, the best approach is to
A. measure the output of the monopolist and the output of the perfectly competitive firm. B. measure the output of the monopolist and the output of the perfectly competitive industry. C. measure the output purchased by consumers from the monopolist and from the perfectly competitive firm. D. calculate the marginal cost of the monopolist and of the perfectly competitive firm.
In the housing market, supply and demand are
a. more elastic in the short run than in the long run, and so rent control leads to a larger shortage of apartments in the short run than in the long run. b. more elastic in the short run than in the long run, and so rent control leads to a larger shortage of apartments in the long run than in the short run. c. more elastic in the long run than in the short run, and so rent control leads to a larger shortage of apartments in the short run than in the long run. d. more elastic in the long run than in the short run, and so rent control leads to a larger shortage of apartments in the long run than in the short run.
Which of the following companies was part of the original Dow Jones Industrial Average?
A) Chicago Gas Company B) National Lead Company C) General Motors Corp. D) AT&T Inc. E) a and b