If a French company exports $2 million of machinery to Italy and French tourists spend $2 million at Italian beaches, the Italian current account balance ________, and the Italian financial account balance ________
A) rises; rises
B) rises; is unchanged
C) is unchanged; is unchanged
D) is unchanged; rises
C
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With each 99 cent iTunes download, GDP
A) rises by 99 cents. B) falls by 99 cents. C) remains unchanged. D) is impossible to measure with this sale because nothing physical has been produced.
All along the beach in San Diego, California are shops which rent boogie boards for $3 per hour. Tourists perceive that all rental boogie boards are identical and there are no restrictions on entry and exit in the boogie board market
Suppose Surf's Up is a boogie board rental shop. To maximize profits, Surf's Up would produce a quantity where A) Marginal revenue is greater than marginal cost. B) Marginal revenue is equal to marginal cost. C) Marginal revenue is less than marginal cost. D) Price is maximized.
The global financial crisis that began in 2008 was a great illustration of how interdependent national economies are
Indicate whether the statement is true or false
From the date a U.S. patent is granted to a firm, it ceases to be a potential source of monopoly profits after
A) 20 years. B) 14 years. C) 10 years. D) 7 years.