Which of the following is an example of a surplus item on the balance of payments?
A) private gifts to foreign residents
B) public gifts to foreign residents
C) interest receipts from foreign residents
D) purchases of gold from foreign residents
Answer: C
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Another term to describe the normal rate of return on capital is the
A) fixed cost of capital. B) depreciation cost of capital. C) opportunity cost of capital. D) monopoly rent.
A manager maximizes profit when they find a level of output where marginal revenue and marginal cost are equal
Indicate whether the statement is true or false
The demand for microwaves in a certain country is given by: D = 8,000 -30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. Suppose the economy is closed. The equilibrium price of a microwave is ________ and equilibrium quantity is ________.
A. $100; 5,000 B. $125; 4,000 C. $75; 6,000 D. $50; 8,000
When multiple countries are trying to boost their economies by lowering the value of their currency, it causes a situation referred to as:
A. speculative war. B. competitive revaluation. C. a speculative attack. D. competitive devaluation.