The difference between interest income or receipts earned on investments in the rest of the world by the residents of a given country and the payments to foreigners on investments they have made in a given country is called:
A) unilateral transfers.
B) net investment income.
C) capital expenditures.
D) none of the above.
B
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Gross investment equals
A) net investment - depreciation + change in inventories. B) net investment + depreciation. C) net investment + change in inventories. D) depreciation + change in inventories.
For the infant-industry argument for tariffs to be appropriate, it is necessary that
A) the industry be deemed essential by the government. B) the government can identify which industries will eventually be able to compete with more established foreign producers. C) only industries that currently are operating efficiently will be protected. D) the country has access to the most modern production techniques.
Exhibit 7-19 Long-run perfectly competitive industry
?
As shown in Exhibit 7-19, assume that a perfectly competitive industry is in long-run equilibrium at point A and the demand curve shifts from D1 to D2. The result is a long-run supply curve drawn from point:
A. A to point B. B. B to point A. C. A to point D. D. A to point C.
Refer to the graphs below. Pizza and beer are the only two goods Jon consumes. The price of beer is $2.00 per pitcher and pizza is $1.25 per slice. If Jon has only $10 to spend for the evening, which graph represents the set of possible combinations of beer and pizza that he can buy?
A. Graph A
B. Graph B
C. Graph C
D. Graph D