Which of the following would be included in the financial account of the U.S. balance of payments?
a. The U.S. government's foreign aid
b. The purchase of a stock in a U.S. corporation by a foreigner
c. The purchase of a Japanese computer by a U.S. corporation
d. The purchase of a plane ticket from Australian Airlines by a U.S. resident
e. The purchase of a German car by a U.S. resident
b
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Pat pays $10,000 for a newly issued two-year government bond with a $10,000 face value and a 6 percent coupon rate. One year later, after receiving the first coupon payment, Pat sells the bond. If the current one-year interest rate on government bonds is 5 percent, then the price Pat receives is:
A. $10,000. B. greater than $10,000. C. less than $10,000. D. $500.
Voluntary exchange
A. is usually beneficial to one party, but not the other. B. is always beneficial to both parties. C. is occasionally beneficial to both parties. D. occurs only between nations, not between individuals.
When the cross price elasticity between good X and other related goods is positive and very low, firm X can be assumed to have:
A) minimal market power. B) moderate market power. C) a significant amount of market power. D) virtually no market power.
One problem associated with intellectual property is that
a. only one person can use it at a time b. the patent system reduces incentives to create new intellectual property c. the cost of producing it usually exceeds the benefit d. encryption software creates monopoly power e. the original producer has difficulty preventing non-paying beneficiaries from consuming the property