Suppose an economics professor receives a $10,000 royalty check from a foreign publishing company and deposits the amount in a local bank. This transaction would be recorded as:
a. a $10,000 credit entry in the domestic services account.
b. a $20,000 debit entry in the domestic capital account.
c. a $20,000 debit entry in the domestic capital account.
d. a $10,000 credit entry in the domestic capital account.
e. a $10,000 debit entry in the domestic services account.
a
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For a theme park two-tier pricing can include a positive admission price and a zero per-ride fee
Indicate whether the statement is true or false
Some antitrust laws address situations involving _______________, where even though there are no outright agreements to control prices or production, the result might still be to reduce competition.
a. restrictive practices b. mergers and acquisitions c. price wars d. union contracts
A currency revaluation is a(n):
A. reduction in the official value of a currency in a fixed-exchange-rate system. B. decrease in the value of a currency relative to other currencies. C. increase in the value of a currency relative to other currencies. D. increase in the official value of a currency in a fixed-exchange-rate system.
If the elasticity of demand is 3, then a 10 percent increase in price will cause quantity demanded to fall by 3 percent.
Answer the following statement true (T) or false (F)