The capital account balance equals foreign purchases of U.S. assets minus U.S. purchases of foreign assets.
Answer the following statement true (T) or false (F)
True
The capital account balance measures the purchases of American assets by foreigners and American purchases of foreign assets.
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Balance of payments refers to the balance between the imports and exports of goods and services during the same time period
a. True b. False Indicate whether the statement is true or false
The entry of a second firm shifts the demand curve of the original firm to the left ?, so that at each price the original firm will sell a decreased quantity.
The entry of a second firm shifts the demand curve of the original firm to the
so that at each price the original firm will sell
quantity.
When a surplus exists
A) the price is below the market clearing price. B) quantity demanded exceeds quantity supplied. C) an excess quantity demanded exists. D) none of the above.
Answer the following questions true (T) or false (F)
1. Accounting costs exclude implicit costs. 2. If a firm is producing no output in the short run, then its total costs are zero. 3. In the short run, changes in output can only be brought about by a change in the quantity of variable inputs.