Owen and Simon both like playing with balls and cars. Suppose B represents the number of balls, and C represents the number of cars. If Owen's utility function can be given by U(B, C) = 10B + 5C, and Simon's utility function can be given by U(B, C) = 6B + 6C, which of the following trades would benefit Simon but not Owen?
A. Owen gives Simon 3 cars in exchange for 2 balls
B. Owen gives Simon 2 cars in exchange for 3 balls
C. Owen gives Simon 3 balls in exchange for 2 cars
D. Owen gives Simon 2 balls in exchange for 3 cars
C. Owen gives Simon 3 balls in exchange for 2 cars
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U.S. exports of goods and services flow to households and firms in ________, and U.S. financial inflows of capital flow to households and firms in ________
A) the rest of the world; the United States B) the rest of the world; the rest of the world C) the United States; the United States D) the United States; the rest of the world E) the United States; the rest of the world and the United States
A country has imports of goods and services at $2,000 billion. The interest paid to the rest of the world is $500 billion. The interest received from the rest of the world is $400 billion. The decrease in official reserves is $10 billion
The government sector balance is $200 billion, savings is $1,800 billion, investment is $2,000 billion, and net transfers is zero. What are net exports? A) $0 B) -$100 billion C) -$200 billion D) $100 billion E) $200 billion
Borrowed funds are used in financing every component of GDP.
Answer the following statement true (T) or false (F)
The economic return to entrepreneurship is called:
a. Rent. b. Wages. c. Profits. d. Interest. e. None of the above.