A summary record of a country's international economic transactions in a given time period is the
A. Current account.
B. Balance of payments.
C. Capital account.
D. Exchange rate balance.
Answer: B
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In the figure below, the value of insurance is $7,000.
A. True
B. False
C. Uncertain
Price discrimination refers to
a. the actions of a single-price monopolist to determine the best price for its output b. selling the same product to different customers at different prices as a result of different production costs c. government regulation of public utility prices d. selling the same product to different customers at different prices for reasons unrelated to production costs e. charging a price just above average total cost in order to drive competing firms from the market
Measured between two points on a curve, the ratio of the change in the variable on the vertical axis to the change in the variable on the horizontal axis is the:
A. axis. B. slope. C. dependent curve. D. independent curve.
Refer to the above graph. As the price level changes, real domestic output remains constant with which line?
A. 1 B. 2 C. 3 D. 4