Which of the following statements accurately describes the U.S. balance of payments in 2017?
a. The balance on goods and services was a positive value.
b. The balance of trade was a positive value.
c. The balance of services was a positive value.
d. The current account balance was a positive value.
c. The balance of services was a positive value.
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The yuan-dollar exchange rate is currently:
A) fixed. B) floating. C) managed. D) flexible.
If we observe a market where the quantity supplied exceeds the quantity demanded, but the market price does not fall, then one explanation for this observation is
A. the market has a price ceiling in place. B. consumers don’t really like this product. C. the market has a price floor in place. D. sellers must produce a minimum quantity of the good, regardless of the demand for the product.
Recall the Application about federal quality standards in the market for kiwifruit to answer the following question(s).Recall the Application. The sweetness of the kiwifruit is based on:
A. its maturity at the time of harvest. B. the amount of water on the ground where it is grown. C. the amount of sunshine at the location of the plantation. D. the variety of the tree.
When marginal utility is negative, total utility
A) increases at a decreasing rate. B) is zero. C) is at its maximum. D) decreases.