The table above gives some of the balance of payments accounts of the United States in 2017
a. What is the current account balance?
b. What is the capital and financial account balance?
c. What is the official settlements account balance?
a. The current account balance is $200 billion.
b. The capital and financial account balance is -$220 billion.
c. The official settlements account balance is $20 billion.
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The international trade effect states that a(n) ________ in the price level will ________ net exports
A) increase; increase B) decrease; decrease C) increase; decrease D) decrease; not affect
If it is not profitable for more than one firm to be in an industry, we have an example of
A) monopoly due to ownership of key resources. B) monopoly due to governmental entry restrictions. C) monopoly due to economies of scale. D) pure competition.
When the Fed reduces the money supply, it will cause a decrease in aggregate demand because:
a. real rates will rise, lowering business investment and consumer spending. b. the dollar will depreciate on the foreign exchange market, leading to an increase in net exports. c. lower interest rates will cause the value of assets (for example, stocks) to rise. d. the national debt will increase, causing consumers to reduce their spending.
In the Cournot model, a firm maximizes profit by selecting
A) its output, assuming that other firms keep their output constant. B) its price, assuming that other firms keep their price constant. C) its output, assuming that other firms will retaliate. D) its price, assuming that other firms will retaliate.