During the year a country's income was $6.0 trillion and its consumption was $5.5 trillion. At the start of the year its wealth was $30.0 trillion. The country's wealth at the end of the year was
A) $36.0 trillion. B) $35.5 trillion. C) $30.0 trillion. D) $6.0 trillion. E) $30.5 trillion.
E
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Refer to Table 2-9. If the two countries specialize and trade, who should export wristwatches?
A) Thailand B) They should both be importing wristwatches. C) Japan D) There is no basis for trade between the two countries.
Pricing can be
A) in the form of a markup. B) can be based on peak loads. C) a barrier to entry. D) all of these choices.
If the firms in a competitive price-searcher market are earning zero economic profit, this indicates that the
a. market is not in long-run equilibrium. b. firms are earning the normal rate of return. c. firms are performing worse than the firms in other markets. d. firms are performing better than firms in other markets.
The preferred asset ratio "U/D" affects the M2 money multiplier because:
a. Actually, it is does not affect the M2 money multiplier because customary reserves are not a part of M2. b. Funds kept in customary reserves reduce financial institution's ability to lend. c. U/D affects the required reserves financial institutions must hold and thereby affects the banking system's lending ability. d. U/D determines the funds flowing into near-money accounts. e. None of the above.