Steve is a professor of Economics at New York State University. He worked in India for a month. The income that he earned from India will be reported as ________ in the U.S. current account
A) factor payments B) exports C) transfer payments D) imports
A
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Consider two countries—A and B. Both the countries are identical except for the fact that institutions are extractive in country A and institutions are inclusive in country B
Given this information, which of the following statements will be true? A) Country A will be characterized by higher output and larger number of entrepreneurs than country B. B) Country A will be characterized by lower output but larger number of entrepreneurs than country B. C) Country A will be characterized by lower output and smaller number of entrepreneurs than country B. D) Country A will be characterized by higher output but lower number of entrepreneurs than country B.
The Keynesian macroeconomic model states that
A) changes in technology generate business cycles. B) the economy is inherently unstable and government intervention is required to maintain continued economic growth. C) fluctuations in the quantity of money are responsible for most economic recessions. D) markets work efficiently to produce the best macroeconomic outcomes. E) the economy is fairly stable.
A person buys a bond with a face value of $10,000 for $9,325. Each year until the maturity date the bond buyer receives $750 from the issuer of the bond. The yield on the bond is
A) 8.04 percent. B) 7.5 percent. C) 10.0 percent. D) 6.75 percent. E) There is not enough information to answer the question.
Precautionary saving is saving:
A. done in anticipation of sales or bargain in the future. B. for the purpose of leaving an inheritance. C. for protection against unexpected setbacks, such as the loss of a job or a medical emergency. D. to meet long-term objectives, such as retirement, college attendance, or the purchase of a home.