Which of the following is included in the current account?
a. Net unilateral transfers. b. Goods imports.
c. Goods exports. d. All are included in the current account.
d
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Corporate profits are taxed by state and local governments, but not by the federal government
Indicate whether the statement is true or false
Capital deepening occurs when
a. the per capita income increases over time. b. real GNP increases over time. c. the capital/labor ratio does not change. d. the capital/labor ratio increases over time.
The current cost of a market basket of goods is $9,000 . The cost of the same basket of goods in the base year was $3,000 . The current price index is:
a. 900. b. 300. c. 166. d. 33.
Since sunk costs are incurred no matter what:
A. they are relevant in deciding how much to produce. B. they are essential in the profit-maximizing sales quantity formula. C. they can generally be ignored in making economic decisions. D. they are considered fixed costs.