The record of a country's transactions in goods, services, and assets with the rest of the world is its
A. capital account.
B. balance of payments.
C. balance of trade.
D. current account.
Answer: B
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An economy that does NOT trade with the rest of the world is a(n)
A. open economy B. trade economy C. closed economy D. command economy
Using the above figure, the efficient amount of paper produced is
A) 60 million tons. B) 80 million tons. C) 100 million tons. D) 120 million tons.
A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. How many transactions must the market maker make if he wants to maximize his profits?
a. 1 b. 2 c. 3 d. 4
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30. B. exactly 60. C. fewer than 30. D. exactly 30.