A country's balance of payments accounts include all of the following EXCEPT the
A) military account.
B) current account.
C) capital and financial account.
D) official settlements account.
A
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Suppose that the equilibrium price of apples decreases and the equilibrium quantity of apples increases. This is best explained by a(n):
A. decrease in the demand for apples. B. increase in the demand for apples. C. decrease in the supply of apples. D. increase in the supply of apples.
Refer to the figure above. What is the producer surplus when Lithasia engages in trade and the government imposes a tariff of $1 on chairs?
A) $5 B) $20 C) $30 D) $40
If an American construction company built a road in Kuwait, this activity would be
A) excluded from U.S. GNP. B) fully included in U.S. GDP. C) included in U.S. GNP only for that portion that was attributable to American capital and labor. D) included in U.S. GDP but not in U.S. GNP.
The aggregate production function shows how much output the economy can produce
a. with different quantities of labor, land, capital and states of technology b. with different quantities of labor and capital, for given amounts of land and a given state of technology c. with different quantities of labor, for given amounts of land and capital, and a given state of technology d. with a given amount of money e. with different amounts of money and given amounts of land, labor, capital, and a given state of technology