The balance of payments consists of the
A. current account, capital account, and official reserve transactions account.
B. capital account, official reserve transactions account, and recent account.
C. current account, capital account, and gold flows.
D. current account, official reserve transactions account, and monetary account.
Answer: A
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The GDP of Country X and Country Y were found to be equal in a particular year. However, the income per capita of Country X was higher than the income per capita of Country Y. This implies that ________
A) the population of Country X is higher than the population of Country Y B) the number of workers in country X is higher than the number of workers in Country Y C) the population of Country X is lower than the population of Country Y D) the number of workers in country X is lower than the number of workers in Country Y
In an assurance game, each Nash equilibria offer identical payouts to any particular player
Indicate whether the statement is true or false
What branch of economics involves the collection and use of data to test economic theories? Why is this task often more difficult in economics than it is in physical sciences?
What will be an ideal response?
Monopolies can earn positive profits
a. In the long run only b. Until they disappear due to new entry c. In the short run only d. None of the above