Based on Table 9.1, if the information in the table is typical of current and financial account values over a long period, then it would be reasonable to infer that
A) the net international investment position is negative.
B) the net international investment position is positive.
C) national savings are less than domestic investment.
D) government accounts are in deficit.
E) the current account balance is greater than domestic investment.
A
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The demand curve faced by a perfectly competitive firm
A. has unitary elasticity. B. is identical to the market demand curve. C. yields constant total revenues even when price changes. D. is the same as its marginal revenue curve.
One concern over external national debt is that interest and principal payments transfer wealth overseas. The percentage of the national debt held in recent years by foreigners is approximately:
a. 5 percent. b. 10 percent. c. 20 percent. d. 30 percent. e. 50 percent.
When a consumer is impatient, his indifference curves for current and future consumption
a. are flatter than the budget line at the endowment point. b. must be straight lines. c. have absolute slopes less than 1 along the 45° line. d. have absolute slopes greater than 1 along the 45° line.
Macroeconomics first developed as a new subfield of economics:
A. as a result of Adam Smith's publication of The Wealth of Nations in 1776. B. in response to the severe economic hardships of the Great Depression. C. when Adolf Hitler ordered economists to learn more about national economies. D. following the oil price increases of the 1970s.