A U.S. citizen's gift for famine relief in Somalia would be considered a:
A. capital inflow.
B. capital outflow.
C. current account transaction.
D. service trade transaction.
Answer: C
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If the average annual growth rate in real GDP for a nation during the last decade was 4 percent per year and the average annual population growth rate was 3 percent per year during the same period, then the average annual growth rate of per capita GDP was
A) 1.00 percent. B) -1.00 percent. C) 0.75 percent. D) 1.33 percent.
If a government runs a cyclically balanced budget, its revenue will equal its expenditure: a. each year
b. at each phase of the business cycle. c. over the course of the business cycle. d. only during expansions. e. only during recessions.
Why are the actions of firms interdependent in an oligopoly market but not in a monopolistically competitive market?
Explain the suggestion that people may have their own "personal discount rate" and how that may affect decisions about borrowing and other financial matters.
What will be an ideal response?