Which of the following would be included in the capital account section of the balance of payments?
a. government bond purchases by people in other countries
b. net investment income
c. imports and exports of goods
d. imports and exports of services
a
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When computing a price index, the base year is
A) the earliest year for which data are available. B) the year that is chosen as the point of reference for comparison of prices with other years. C) the most recent year for which data are available. D) the most recent year in which the inflation rate was close to zero.
If a firm experiences economies of scale as it expands production, then:
a. it is not subject to diminishing returns. b. its marginal cost curve will be downward sloping in that range. c. its marginal product curve will be downward sloping in that range. d. its long-run average total cost curve will be downward sloping in that range.
The federal government and insurance companies are examples of third party
A. users of health care. B. providers of health care. C. observers of health care. D. payers for health care.
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. decreases. D. initially increases, then decreases.