Which of the following is not included in a nation's balance of payments?
a. Imports and exports of services.
b. International interest and dividend earnings.
c. International gifts.
d. International loans.
e. All of the above are included in the balance of payments.
.E
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If the growth rate of real GDP and the rate of inflation in an economy are 2% and 1% respectively, the growth rate of nominal GDP in the economy must be:
A) 3%. B) 1%. C) 5%. D) 2%.
The federal funds rate is a:
A) short-term nominal interest rate. B) short-term real interest rate. C) long-term real interest rate. D) long-term nominal interest rate.
Protectionism may reduce imports, and it will also
a. appreciate the dollar, reducing exports. b. appreciate the dollar, increasing exports. c. depreciate the dollar, increasing exports. d. depreciate the dollar, reducing exports.
A monopoly displays productive efficiency because it produces at the lowest possible average total cost
a. True b. False Indicate whether the statement is true or false