A current account surplus exists when
A. net exports are positive.
B. net exports are negative.
C. financial flows out of a country for goods and services exceeds financial flows into the country for its goods and services.
D. imports exceed exports.
Ans: A. net exports are positive.
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Suppose Aiyanna's Pizzeria currently faces a linear demand curve and is charging a very high price per pizza and doing very little business. Aiyanna now decides to lower pizza prices by 5% per week for an indefinite period of time. We can expect that each successive week
A. demand will become less price elastic. B. the elasticity of supply will increase. C. price elasticity of demand will not change as price is lowered. D. demand will become more price elastic.
Microeconomics studies
A) decisions made by individual consumers and firms. B) the changes in economic theory brought about by real-world events. C) how small changes in the unemployment rate can have far-reaching effects. D) how small changes in the money supply can have far-reaching effects.
The scientific method is
a. the use of modern technology to understand the way the world works. b. the use of controlled laboratory experiments to understand the way the world works. c. the dispassionate development and testing of theories about how the world works. d. the search for evidence to support preconceived theories about how the world works.
The World Bank is
A. made up of the central banks of the leading industrial nations of the world. B. made up of five separate institutions. C. the European Union. D. the Bank of the United Nations.