In the BOP, travel and tourism are included in
A) unilateral transfers.
B) the capital account.
C) the merchandise account.
D) the services account.
D
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If speculators believe a currency is undervalued, their trades in international exchange markets will
A) increase the surplus of the currency at the existing fixed exchange rate. B) increase the shortage of the currency at the existing fixed exchange rate. C) decrease the shortage of the currency at the existing fixed exchange rate. D) decrease the surplus of the currency at the existing fixed exchange rate.
Which of the following is most likely to be an untraded good in a Ricardian two-country, multi-good model?
A) steel B) textiles C) haircuts D) petroleum E) telemarketer services
If the marginal product of the second worker hired by a firm is 14 units and the price of the tenth unit of output is $7, then the marginal revenue product
a. of the second worker is $98, regardless of the structure of the product market b. of the second worker is $98 if the firm is a price searcher in the product market c. of the second worker is $98 if the product market is perfectly competitive d. of the tenth worker is $98 if the product market is perfectly competitive e. of the tenth worker is $98 if the firm is a price searcher in the product market
Economic profit of a decision in question equals
a. accounting profit of the decision in question + its opportunity cost. b. accounting profit of the decision in question ? accounting profit of the best available alternative. c. accounting profit of the decision in question + its opportunity cost + overheads. d. its opportunity cost + accounting profit of the best available alternative.