Which of the following does NOT appear in the current account part of the balance of payments?
A) a loan of $1 million from Bank of America to Brazil
B) foreign aid to El Salvador
C) an Air France ticket bought by an American
D) income earned by General Motors from its plants abroad
A
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Which of the following is a stock variable?
A) money supply B) wealth C) public debt D) all of the above
Refer to Table 9-9. Suppose that the data in the table above reflect the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2015 and 2016?
A) 2% B) 5% C) 8% D) 11% E) 13%
Under laissez-faire, society’s decisions about how much of every product to produce depend on
A. consumer preferences only. B. production costs only. C. consumer preferences and production costs. D. neither consumer preferences nor production costs.
An increase in the price of a good causes people to buy less of it because
a. the demand for the good decreases b. they have less income to spend on the good c. the marginal utility from additional units of consumption of the good decreases d. the marginal-utility-to-price ratio for the good decreases e. consumer surplus from consumption of the good decreases