Our balance on current account
A. has recently turned negative.
B. has been negative for years.
C. has recently turned positive.
D. has been positive for years.
B. has been negative for years.
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
If the market demand curve has constant price elasticity of -1, the monopolist's price should approach infinity.
Answer the following statement true (T) or false (F)
In the real world, countries use a mixture of the three basic types of economic systems
a. True b. False Indicate whether the statement is true or false
When people’s income increases, demand for science fiction novels increases. The novels are
a. an inferior good. b. substitutes. c. a normal good. d. regular goods.