Answer the question on the basis of the following balance of payments data for the hypothetical nation of Econland. All figures are in billions of dollars.
(1) Goods exports +$220
(2) Goods imports -328
(3) Exports of services +54
(4) Imports of services -55
(5) Net investment income +18
(6) Net transfers -11
(7) Capital account -1
(8) Foreign purchases of Econland assets +124
(9) Econland purchases of foreign assets -21
Refer to the table above. Econland's balance on the capital and financial accounts is a:
A. Deficit of $110 billion
B. Surplus of $92 billion
C. Surplus of $102 billion
D. Surplus of $103 billion
C. Surplus of $102 billion
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In the Baumol-Tobin analysis of transactions demand, scale economies imply that an increase in real income increases the quantity of money demanded ________, while an increase in the price level increases the quantity of money demanded ________
A) proportionately; less than proportionately B) more than proportionately; proportionately C) less than proportionately; proportionately D) proportionately; more than proportionately
Which statement is true?
A. No one receiving public assistance is employed. B. Some people receiving public assistance are employed. C. More people were receiving public assistance in 2007 than in 1994. D. According to current law, no one will be eligible to receive public assistance by the end of 2012.
Which of the following would increase the supply of physicians?
a. Making it easier for plaintiffs to prove medical malpractice claims b. Increasing the medical school entrance requirements to include 15 hours of economics c. Increasing the cost of attending medical school d. More scholarships and grants to cover medical school tuition e. Reducing the number of residency programs in some specialties in order to increase the number of family practice residencies
The poverty line equals the:
A. average income of the bottom one-tenth of all income recipients. B. cost of an economical and nutritional food plan for a family multiplied by six. C. cost of an economical and nutritional food plan for a family multiplied by three. D. average income of a family headed by a worker who has been unemployed for six months or more.