Suppose that there is a current account deficit of $250 billion and a financial account surplus of $260 billion. It may be concluded that the
A) overall balance of payments is +10.
B) overall balance of payments is -10.
C) official reserve transaction account balance is +10.
D) official reserve transaction account balance is -10.
Answer: B
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The American Revolution and Constitution represented the transition to "modern liberalism," or
(a) a strong emphasis on the role of government in providing for the welfare of the people and the regulation of business activities. (b) an emphasis on free enterprise and competitive individualism and a limited role for government. (c) an emphasis on public virtue and commitment to the welfare of the community or nation as a whole, and a de-emphasis on self-interest and profit-seeking behavior. (d) an emphasis on laissez-faire and the absence of government laws.
At the XYZ Co, a unit of capital costs 3 times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
A) MPK = 3 ? MPL. B) the firm will not hire any capital. C) the firm will hire 3 times as much labor as capital. D) the firm will hire 3 times as much capital as labor.
If a bank has actual reserves of $40,000 and a 20 percent reserve requirement, then the maximum amount of checkable deposits the bank can have if excess reserves are zero is:
a. $100,000. b. $80,000. c. $300,000. d. $20,000. e. $200,000.
An increase in demand accompanied by an increase in supply will increase the equilibrium quantity, but the effect on equilibrium price will be indeterminate.
Answer the following statement true (T) or false (F)