When the current account balance is ______ and the financial account balance is ______, then the statistical discrepancy will be $100 billion.
a. $300 billion; $400 billion
b. negative $300 billion; $300 billion
c. $400 billion; negative $300 billion
d. negative $400 billion; $300 billion
d. negative $400 billion; $300 billion
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Banks with excess reserves will supply more reserves to the federal funds market as the interest rate increases
Indicate whether the statement is true or false
A legal entity that may conduct business in its own name just as an individual does is a(n)
A) corporation. B) entrepreneur. C) proprietorship. D) partnership.
Suppose you want to buy a boat, but you know that interest paid on a boat loan is not tax deductible. Therefore, you take out a home equity loan, the interest on which is still tax deductible. This procedure is an example of
a. illegal tax avoidance b. illegal tax evasion c. legal tax avoidance d. legal tax evasion e. the answer cannot be determined from the information given
If the short run elasticity of demand for widgets is 1.1 and the long run elasticity of demand for widgets is 3.6, an increase in price will ____ total revenue in the short run and ____ total revenue in the long run. a. Increase; increase
b. Increase; decrease. c. Decrease; increase. d. Decrease; decrease.