Which of the following will enter as a credit in the U.S. balance of payments capital account?
a. the purchase of a Japanese automobile by a U.S. consumer
b. the sale of Japanese electronics to an American
c. the sale of an American baseball team to a Japanese industrialist
d. the purchase of a Japanese electronics plant by an American industrialist
C
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The process of focusing on only the most important factors to explain a phenomenon is called
A. abstraction. B. marginal analysis. C. rational choice. D. controlled experimentation. E. the trade-off between efficiency and equality.
Figure 36-4
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Which of the situations illustrated in Figure 36-4 shows a currency depreciation leading to inflation?
A. 1 B. 2 C. 3 D. 4
If average cost is decreasing,
A) marginal cost equals average cost. B) marginal cost exceeds average cost. C) marginal cost is less than average cost. D) Not enough information is provided.
A perfectly competitive firm shuts down in the short-run when the market price is less than the average variable cost
a. True b. False Indicate whether the statement is true or false