Which of the following would not be counted in the U.S. balance of payments' current account?
a. Helen, an American oil engineer, is a paid adviser to Mexico.
b. Exxon owns oil fields in Mexico.
c. France purchases a new jet fighter aircraft from the Boeing Company in Seattle.
d. Martha receives a $50 dividend check on stock she owns in a business in Mexico.
e. A wealthy Italian purchases numerous antiques in the United States for his Roman villa.
B
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Both firms in a Cournot duopoly would experience lower profits if:
A. there was an increase in marginal production costs and one firm reduced output below the Cournot Nash equilibrium level, while the other firm continued to produce its Cournot Nash equilibrium output. B. there was an increase in marginal production costs. C. each firm simultaneously increased output above the Nash equilibrium level. D. one firm reduced output below the Cournot Nash equilibrium level, while the other firm continued to produce its Cournot Nash equilibrium output.
Regulators usually encourage natural monopolists to engage in
A. marginal cost pricing. B. marginal cost pricing, with subsidies from the government offsetting the losses. C. average cost pricing. D. inefficient pricing.
In a perfectly competitive resource market the Marginal Revenue Product Curve is
A) vertical. B) horizontal. C) downward sloping. D) upward sloping.
Normal goods will experience decreasing demand when incomes decrease.
Answer the following statement true (T) or false (F)