A country had a net capital outflow of 300 billion euros and exports of 400 billion euros. What was the value of its imports?
100 billion euro
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Where do the FDIC's funds come from?
A) Congress appropriates money for the FDIC, just as it does for other federal agencies. B) The FDIC earns income through the insurance premiums paid by insured banks and from investment earnings. C) The FDIC sells bonds in the financial markets. D) The FDIC relies on voluntary contributions from the banking community.
In general, economic profits are:
A. less than accounting profits. B. the same as accounting profits. C. greater than accounting profits. D. not comparable to accounting profits.
When we compare economic welfare in a monopoly market to a competitive market, the profits earned by the monopolist represent
a. a loss in total welfare. b. a transfer of benefits from the buyer to the seller. c. the higher marginal costs incurred by the monopolists in comparison to competitive firms. d. All of the above are correct.
The perfect competitor's demand curve is perfectly elastic
A. only in the short run. B. only in the long run. C. in both the short and the long run. D. in neither the short nor the long run.