The ________ balance includes purchases and sales of financial assets to and from citizens and companies of other countries.
A. capital account
B. investment account
C. current account
D. none of these
Answer: C
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The ________ effect can be divided into the ________ effect and the ________ effect
A) marginal; substitution; price B) income; substitution; price C) substitution; price; income D) price; substitution; income
The real interest rate is calculated by subtracting inflation from the nominal interest rate
a. True b. False Indicate whether the statement is true or false
What happens during a bank run?
a. The government orders a bank to close. b. States charter more banks than needed. c. The price of gold suddenly increases. d. More customers withdraw money than the bank has on hand.
The price of an airline ticket from Denver to Chicago costs $450. A bus ticket costs $150. Traveling by plane takes 2 hours compared with 32 hours by bus. Other things constant, Erica would gain by choosing air travel if, and only if, she values her time at more than
A) $5 per hour. B) $300 per hour. C) $10 per hour. D) $9.38 per hour.