The balance of payments is divided into three main sections: ______.
a. the current account, the balance account, and the credit discrepancy.
b. the debit account, the credit account, and the net balance account.
c. the current account, the financial account, and the statistical discrepancy.
d. the import account, the export account, and the foreign asset account.
c. the current account, the financial account, and the statistical discrepancy.
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Answer the following statement(s) true (T) or false (F)
1. When a Clarke tax is used, the revenue collected may or may not cover the cost of providing the public good. 2. One problem with a Clarke tax is that although it may not cover the complete cost of a public good, it will never generate more than the cost of the good. 3. Social costs are equal to the costs imposed on others. 4. Social costs are felt by consumers but not by manufacturers. 5. All cars contribute positively to social gains.
The Federal Reserve System
A. regulates not only banks but some of the other financial institutions. B. is directly controlled by the President. C. regulates all financial institutions in the United States. D. controls the fiscal policy of the federal government.
What price would an individual be willing to pay today for a stock that is expected to sell for $100 two years from now and which pays an annual dividend that is $6.00? Assume the individual has a discount rate of 8% (0.08).
What will be an ideal response?
Supply shocks:
A. occur more frequently than demand shocks. B. usually result from fiscal and monetary policy changes. C. occur when sellers face unexpected changes in the availability and/or prices of key inputs. D. have been responsible for most of the recessions in the United States since World War II.