Which of the following would be recorded in the U.S. goods export account?
A. Harry, an American citizen, spends 1,000 francs on vacation in the south of France.
B. A machine shop in Ohio purchases a grinder made in Italy.
C. Martha receives a $50 dividend check on stock she owns in a business in Germany.
D. France purchases a new jet fighter aircraft from the Boeing Company in the United States.
Answer: D
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Which of the following characterizes long-run equilibrium in perfect competition?
A) P = MC = ATC B) P = MC < ATC C) P > MC = ATC D) P = MC > ATC
If the real GDP of a country is substantially lower than its nominal GDP, the country experiences low inflation and unemployment
a. True b. False Indicate whether the statement is true or false
The best example of a market capitalist economy is:
A) Russia. B) China before 1979. C) Cuba. D) the United States.
The long-run aggregate supply curve can be thought of as the
A) level of output that the nation is currently producing. B) full-employment level of real GDP. C) level of real GDP associated with a constant price level. D) level of output for which real GDP equals nominal GDP.