A U.S. citizen's gift for famine relief in Somalia would be considered a:
a. capital inflow. b. capital outflow.
c. current account transaction. d. service trade transaction.
c
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Charter schools generally receive more funding than traditional public schools
a. True b. False
Below, the graph on the left shows long-run average and marginal cost for a typical firm in a perfectly competitive industry. The graph on the right shows demand and long-run supply for an increasing-cost industry.
If this were an increasing cost industry, what would be the price when the industry gets to long-run competitive equilibrium?
A. $35 B. between $35 and $15 C. below $15 D. above $35 E. $15
In a liquidity trap:
a) monetary policy is very effective in changing income and output. b) fiscal policy is ineffective in changing income and output. c) monetary policy is ineffective in changing income and output. d) monetary policy is somewhat effective in changing income and output in the short-run.
In perfect competition, which is NOT true?
A. Firms are price-takers. B. There are a large number of firms. C. Firms produce homogeneous goods. D. Every firm has a small but perceivable market power.