_____ transactions refer to the export and import of goods and services as well as any international earnings on investments, both public and private
a. Current account
b. Capital account
c. Official reserve account
d. Savings account
a
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Assume it is announced that a large number of new competitors have entered the market for mountain bikes, each offering a different model. Based on this information, this industry is best characterized as:
A) perfectly competitive. B) a monopoly. C) monopolistically competitive. D) an oligopoly.
When restrictions alter the pattern of international trade, the _____ benefit and the _____ suffer(s)
a. domestic consumers; domestic producers b. domestic consumers; government c. domestic producers; domestic consumers d. foreign producers; domestic producers e. foreign producers; domestic consumers
A government program that reduces land under cultivation hurts farmers but helps consumers
a. True b. False Indicate whether the statement is true or false
An economic system in which a central authority makes all economic decisions
a. command economy b. traditional economy c. market economy d. free enterprise economy