The largest portion of any nation's balance of payments current account is the
A) importing and exporting of merchandise goods.
B) importing and exporting of services.
C) importing and exporting of gold.
D) importing and exporting of capital goods.
A
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Figure 7-15
In Figure 7-15, we would expect a move along the production indifference curve from A to B if
A. the price of machines falls. B. the price of labor falls. C. output falls. D. the product price rises.
Firms should raise the prices on their goods
a. If the demand for the product is elastic b. If it acquires a firm selling a complement good c. If it acquires a firm selling a substitute good d. Both a and c
If those who consumed common resources were subject to a tax that was equal to the external costs that they imposed due to the negative externality created:
A. an efficient level would be reached. B. total surplus would be maximized for the whole society. C. individuals would consume less. D. All of these statements are true.
If the unemployment rate rises, which policies would be appropriate to reduce it?
a. increase the money supply, increase taxes b. increase the money supply, cut taxes c. decrease the money supply, increase taxes d. decrease the money supply, cut taxes