The net value of the flow of goods, services, income, and gifts is the current account balance.
Answer the following statement true (T) or false (F)
True
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The Taylor rule implies that the Fed should set the federal funds target based on which of the following?
A) the proportionate gap between actual real GDP and a measure of potential real GDP B) the current deviation of the actual inflation rate from the Fed's inflation objective C) an estimated long-run real interest rate D) all of the above
Up to which point will a perfectly competitive firm continue to invest? Explain carefully
What will be an ideal response?
A binding price ceiling that could be set in the market in the graph shown would be:
A. $15.
B. $11.
C. $8.
D. $30.
Diminishing marginal product occurs when
a. the increases to total output are declining. b. marginal product is negative. c. total output is decreasing. d. All of the above are correct.