The above gives some of the balance of payments accounts of the United States in 2020
a) What is the current account balance?
b) What is the capital account balance?
c) What is the official settlements account balance?
a) The current account balance is $200 billion.
b) The capital account balance is -$220 billion.
c) The official settlements account balance is $20 billion.
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Which of the following would be illegal under the Robinson-Patman Act?
a. Ford and General Motors meet to fix the price of cars. b. Computer makers form a cartel. c. General Mills and Kelloggs decide to merge. d. Exxon sells gas at a higher wholesale price to independent gas retailers than to Exxon retailers. e. Exxon Oil and Mobil Oil elect the same person to their boards of directors.
The main reason why the short-run aggregate supply curve slopes upward is that as the average price level increases, larger scales of production become more profitable
a. True b. False Indicate whether the statement is true or false
The term _____ refers to time periods when the buying power of money in terms of goods and services increases
a. stagflation b. deflation c. hyperinflation d. recession
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $10. What does total revenue equal when quantity equals 4?
A) $4 B) $6 C) $36 D) $40