Countries where investment is
A) relatively unproductive should have current account deficits.
B) relatively productive should have current account surpluses.
C) relatively productive should have current account deficits.
D) relatively productive should have balanced current accounts.
E) relatively unproductive should have balanced current accounts.
C
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Bill is an economics professor who earns $37,000 teaching but decides to leave and fulfill his dream of catering barbecues. During his year of barbecuing he earned total revenue of $60,000. He spent $30,000 on food and supplies
He also paid his wife $10,000 to help serve food. The normal profit for an entrepreneur running a barbecue business is $3,000. Bill also rented an industrial grill/fry truck for $12,000. Bill had an economic A) profit of $20,000. B) loss of -$32,000. C) loss of -$42,000. D) profit of $28,000. E) profit of zero.
In the above figure, a technologically inefficient point is
A) a. B) e. C) g. D) f.
A decrease in the price level in an economy will _____
a. shift the aggregate demand curve to the right b. shift the aggregate demand curve to the left c. increase the level of aggregate quantity demanded d. decrease the level of aggregate quantity demanded e. shift the aggregate expenditure line downward
About what percent of total world trade is accounted for by countries that belong to the World Trade Organization?
a. 54 percent b. 72 percent c. 89 percent d. 97 percent