When a Chinese company builds an auto plant in the United States, the immediate result of this Chinese investment in the United States is a ________ item in the U.S. ________ account
A) surplus; current
B) surplus; capital
C) deficit; current
D) deficit; capital
B
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Suppose scientific research generates external benefits. Without government intervention, the market for scientific research would
A) produce the efficient amount. B) produce more than the efficient amount. C) produce some research, but less than the efficient amount. D) produce zero research. E) either produce more than or less than the efficient amount depending on whether the external benefit is on the production or consumption of the research.
Economic depreciation is the
A) firm's opportunity cost of using its own capital. B) change in the market value of capital over a given period. C) return that an entrepreneur can expect to receive on average. D) forgone return on the funds used to buy capital.
Refer to Table 5.4. If outcomes 1 and 2 are equally likely at Job A, then the standard deviation of payoffs at Job A is
A) $1. B) $10. C) $40. D) $50. E) $60.
A schedule of amounts of a good that people will purchase at various prices during a specific time period holding other factors constant is
A) a market. B) supply. C) demand. D) the market clearing price.