Someone in Germany has just ordered a U.S. car to be exported to Germany. In the U.S. balance of payments, this purchase is a(n)
A) accounting identity.
B) special draw.
C) surplus item.
D) deficit item.
Answer: C
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Suppose you have a fixed-rate mortgage with a nominal interest rate of 6% and the expected annual inflation rate over the life of the mortgage is 2%. What is the expected real interest rate?
A) 3% B) 4% C) 8% D) 12%
Refer to Figure 10.3. What price will the monopsonist pay when maximizing profit?
A) P1 B) P2 C) P3 D) P4 E) P5
Suppose demand is given by Qxd = 50 ? 4Px + 6Py + Ax, where Px = $4, Py = $2, and Ax = $50. What is the advertising elasticity of demand for good x?
A. 0.52 B. 0.38 C. 1.12 D. 1.92
The marginal income tax rate applies to
A. the income in the highest tax bracket reached. B. the income received by people above the national average. C. all income earned by a family. D. the income of the highest income U.S. taxpayers.