Answer the following statement true (T) or false (F)
1) Demographers expect world population to ultimately decline in the next century.
2) Commodity prices are relatively stable from year to year.
3) Per capita water use in the United States has steadily increased since 1973.
4) Per capita energy use in the United States has remained fairly constant since 1980.
1) T
2) F
3) F
4) T
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Suppose the price of gold is $300 per ounce in the United States and 2,400 pesos per ounce in Mexico. If purchasing power parity holds then, if the price of oil is 200 pesos per barrel in Mexico, the price of oil is ________ per barrel in the United States.
A. $80 B. $36 C. $1,600 D. $25
One of the primary objections to the new classical model is that ________
A) firms could easily get information about price movements and so would not be fooled for very long B) price is negatively related to quantity demanded, but positively related to quantity supplied C) business cycles are relatively brief in duration D) it failed to incorporate rational expectations into its presentation
A deficit in a country's current account means that:
a. the country is running a net deficit in its financial account. b. the country is a net lender to the rest of the world. c. the country is running a net surplus in its financial account. d. the country will have a positive value of net exports. e. the domestic production is in excess of domestic spending.
What effect does the following transaction have on the U.S. balance of payments? (Choose the proper debit and credit entries.)Ford Motor Company (U.S.) purchases automobile parts from Mexico and agrees to pay the Mexican supplier in Mexican pesos in 90 days
a. Debit the U.S. financial account; credit the U.S. current account. b. Credit the U.S. financial account; debit the U.S. current account. c. Debit the U.S. financial account; credit the U.S. financial account. d. Credit the U.S. financial account; debit errors and omissions.