An example of a transaction that will be a surplus item on the U.S. balance of payments is
A) a U.S. resident purchasing French wine.
B) a French subsidiary's plant in New Jersey purchasing parts from the main plant in Paris.
C) a gift of wheat from the U.S. government to India.
D) a tourist from Germany buying a ticket to fly from New York to Chicago on American Airlines.
D
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Reformulated gasoline
a. refers specifically to ethanol (10) b. includes enhanced oxygen to enhance combustion c. refers to formulations that release less hydrocarbons, toxics, and CO than conventional gasoline d. includes large amounts of MTBE
In an input market, economic rent is defined as
a. the total remuneration paid to a factor of production. b. the minimum amount required to retain a factor of production in its present use. c. the total cost for a firm of renting land, equipment, and buildings. d. the extent to which payments to a factor of production exceed the minimum amount required to retain it in its present use.
According to the ____ view, a nation’s wealth consists of the amount of gold or other monies at its command.
A. Keynesian B. free trade C. mercantilist D. monetarist
Hedonic pricing is
A) the way that luxury goods are priced in a market economy. B) the tendency for the inflation rate to rise by greater and greater amounts. C) the tendency for nominal GDP to rise when the price level rises. D) the process of translating nominal GDP into real GDP. E) the process of pricing individual characteristics of a good or service.