Which of the following statements is TRUE about income and wealth?
A. Both income and wealth are stock measures.
B. Income is a flow measure and wealth is a stock measure.
C. Income is a stock measure and wealth is a flow measure.
D. Both income and wealth are flow measures.
Answer: B
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________ is the process of determining terms of exchange by individual negotiations between a buyer and a seller
A) Backward induction B) Bilateral bargaining C) Arbitration D) Collective bargaining
NCO plus domestic investment forms the:
A. demand for loanable funds in an open economy. B. demand for loanable funds in a closed economy. C. supply of loanable funds in an open economy. D. supply of loanable funds in a closed economy.
If the U.S. has a trade deficit and the nominal exchange rate depreciates, then other things the same
a. the trade deficit rises and net capital outflow rises. b. the trade deficit rises and net capital outflow falls. c. the trade deficit falls and net capital outflows rise. d. the trade deficit falls and net capital outflows fall.
When the total utility from consuming one good is maximized, marginal utility is
A. zero. B. minimized. C. positive. D. maximized.