All two-dimensional graphs must have an origin, a horizontal axis, and a vertical axis
a. True
b. False
Indicate whether the statement is true or false
True
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If foreigners spend more on U.S.-made goods and services than we spend on theirs
A) foreigners must borrow from the United States or sell U.S. assets to make up the difference. B) all U.S. national saving remains in the United States. C) we must borrow from foreigners because of low imports. D) funds flow in from abroad to help finance U.S. investment.
Health care expenditures coming directly out of consumers' pockets, primarily in the form of deductibles and copayments, account for what percent of U.S. health care spending?
A. 17 percent. B. 33 percent. C. 50 percent. D. 83 percent.
Under a gold standard, if the U.S. has a trade deficit with Japan,
A. the U.S. would receive gold from Japan, the Japanese money supply would decline, and the price level would fall in Japan. B. the U.S. would receive gold from Japan, the U.S. money supply would increase, and the U.S. price level would rise. C. the U.S. would lose gold to Japan, the U.S. money supply would increase, and the price level in the U.S. would increase. D. the U.S. would lose gold to Japan, the U.S. money supply would decline, and the U.S. price level would fall.
With average cost pricing, the monopolist
A) earns no accounting profit. B) produces where P = MC. C) earns a normal rate of return for its shareholders. D) does not cover opportunity costs.