If the U.S. experiences a current account deficit, then
A. the U.S. must also be running a capital account deficit.
B. the U.S. must be running a capital account surplus.
C. the U.S. may either experience a capital account surplus or deficit.
D. None of these statements are true.
B. the U.S. must be running a capital account surplus.
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If a tax is efficient, it will necessarily be equitable.
A. True B. False C. Uncertain
The short-run supply curve for the perfectly competitive firm is the portion of its
A) MC curve above the AVC curve. B) MC curve above the AFC curve. C) MC curve above the ATC curve. D) MC curve above the MR curve.
When a tax is imposed, the surplus that is lost to buyers and sellers but converted into tax revenue is:
A. considered a cost of taxation. B. part of deadweight loss. C. the sole source of deadweight loss. D. not part of deadweight loss.
Fred's demand schedule for movie DVDs is as follows: At $30, he would buy 1; at $25, he would buy two; at $15, he would buy 3; and at $10, he would buy 4 . If the price of movie DVDs equals $25, the consumer surplus Fred receives from purchasing movie DVDs would be: a. zero. b. $5
c. $25. d. $55.