A statement of the stocks of a country's foreign assets and foreign liabilities at a point in time represents the country's
A. balance of payments.
B. financial account balance.
C. government budget surplus or deficit.
D. international investment position.
Answer: D
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When a recession is triggered by a(n) ________ in autonomous expenditure, and as the economy turns the corner into ________, real GDP exceeds aggregate planned expenditure and unplanned inventories ________
A) increase; recession; increase B) decrease; expansion; decrease C) decrease; expansion; increase D) decrease; recession; decrease E) decrease; recession; increase
Which of the following is the largest single component of the market basket used to compute the consumer price index (CPI)? a. Food and beverages. b. Housing
c. Transportation. d. Medical care.
The supply curve shows the relationship between:
A. physical inputs of resources and the resulting units of output. B. total business revenues and quantity supplied. C. price and quantity supplied. D. production costs and the amount demanded.
Which of the following is TRUE of the price charged by a monopolistically competitive firm at the profit-maximizing level of output?
A) P > MC B) P = MC C) P = MR D) P < AVC