The net factor income from the rest of the world (NFIFA) appears in the Irish Balance of Payments as:
(a) A credit item in the current account;
(b) A debit item in the current account;
(c) A debit item in the capital account;
(d) A debit item in the financial account.
Answer: (a) A credit item in the current account;
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Tariffs and quotas tend to
a. raise prices domestically but make more goods available b. raise prices domestically and channel more domestic goods into exports c. raise prices domestically and reduce availability of goods d. lower prices domestically but reduce availability of goods e. none of the above
When the free rider problem is present in a market the good:
A. will be oversupplied. B. will be under consumed. C. is rival in consumption. D. is not excludable.
Why doesn't GDP change in the long run when the money supply changes?
A. Because in the long run, GDP is determined by the fundamental factors of growth, not the money supply. B. Because the money supply changes only in the short run and then returns to its long-run level. C. Because in the long run, GDP is determined by fiscal policy and not by monetary policy. D. Because in the long run, households adjust their savings to counteract any change in the money supply.
________: system whereby currency values are determined by market supply and demand conditions, with minimal government intervention
Fill in the blank(s) with correct word