The table above gives data for the nation of Syldavia. The official settlements account has a
A) $40 billion surplus.
B) balance of $380 billion.
C) $30 billion deficit.
D) zero balance.
E) $40 billion deficit.
D
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The opportunity cost of holding money
A. varies inversely with the interest rate. B. varies directly with the interest rate. C. varies inversely with the level of economic activity. D. is zero because money is not an economic resource.
Professional football players receive, on average, higher wages than professional soccer players in the United States because
A) football is a more dangerous sport. B) professional football teams can draw huge crowds and charge high prices for tickets. C) professional football teams use a draft system. D) the soccer season is longer and so players will be unemployed for a smaller portion of the year.
Free trade policies may lead to
A) a decrease in world output. B) price increases in world markets. C) some labor sectors experiencing some short-term job loss. D) none of the above.
As new firms enter a monopolistically competitive market, product differentiation becomes less pronounced
Indicate whether the statement is true or false