When there is a negative entry for unilateral transfers in the balance of payments, it means that
A) there must be an offsetting positive sign in the capital account.
B) U.S. residents gave more to foreign residents than foreign residents gave to U.S. residents.
C) U.S. residents purchased less services from foreign countries than foreign countries purchased from U.S. residents.
D) U.S. residents purchased more services from foreign countries than foreign countries purchased from U.S. residents.
B
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To maximize profit, a firm hires the quantity of labor that makes the ________ of labor equal to the ________
A) value of marginal product; wage rate B) total revenue; total cost of labor C) marginal product; total cost of labor D) marginal product; marginal revenue
Suppose there has been an increase in investment. As a result, real GDP will ________ in the short run, and ________ in the long run
A) decrease; increase to its initial level B) increase; increase further C) increase; decrease to its initial value D) decrease; decrease further
Sally leaves her $24,000 secretarial position with a company and invests her savings of $15,000 (on which she was earning 6 percent interest) in her own Ready Sec agency. After expenses, her net income was $28,900. Her economic profit was
A. $4,900. B. $4,000. C. $28,900. D. ?$10,100.
What is the present value of $100 three years from now at an interest rate of 6%?
A) $83.96 B) $82 C) $94.34 D) $119.10