The difference between the price of electronic equipment in a retail store and on the Internet partly reflects:
A. the value of personal attention and support at a retail store.
B. the extent to which middlemen drive the price up for extra profit.
C. excessive markup.
D. the lack of competition between brick and mortar stores and online stores.
Answer: A
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When a U.S. company makes a $200,000 donation to the International Red Cross to help the victims of an earthquake in India, the transaction is recorded in the
A) current account. B) one-way donations account. C) international help account. D) capital and financial account. E) official settlements account.
The production possibilities frontier slopes downward and to the right because of limited resources
a. True b. False Indicate whether the statement is true or false
The best combination of inputs at one level of production may not be best at other levels.
a. true b. false
Gross national income (GNI) is GDP converted into dollars using an average of currency exchange rates over several years adjusted for rates of inflation.
Answer the following statement true (T) or false (F)