An example of a unilateral transfer is
A) a gift to a relative who lives abroad.
B) a check received in payment for an import.
C) gold payments to foreign companies.
D) SDR payments to world creditors.
A
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An economy has no imports or income taxes. The MPC is 0.75 and real GDP is $120 billion. Businesses increase investment by $4 billion. The multiplier is ________ and the change in real GDP from the increase in investment is ________ billion
A) 5; $16 B) 4; $25 C) 0.75; $3 D) 5; $25 E) 4; $16
In the short-run, a fall in demand results in _____ while in the long-run, a fall in demand results in ______
A. an increase in output and prices; a decline in output only B. a fall in prices and an increase in output; no change in output or prices C. a fall in prices only; and fall in output and prices D. a fall in output and prices; a fall in prices only
Answer the following statement true (T) or false (F)
1) Nonrenewable natural resources are fixed in supply (actually or virtually). 2) Assuming that interest rates are positive, the present value of an $80 barrel of oil in two years is less than an $80 barrel today. 3) Present value allows us to weigh the benefits and costs of using resources today or in the future. 4) The user cost of a resource is the market price paid by the buyer of the resource.
eBay has a seller reputation system to provide
A) consumers with a signal concerning seller quality. B) sellers a chance to signal other sellers concerning their quality. C) a reduction in monopoly power. D) improvements in investor relations.