Which of the following was the leading import (by value) of the United States in 2012?
A. Petroleum
B. Apparel
C. Automobiles
D. Household appliances
A. Petroleum
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The largest portion of any nation's balance of payments current account is the
A) importing and exporting of merchandise goods. B) importing and exporting of services. C) importing and exporting of gold. D) importing and exporting of capital goods.
What should a profit maximizing monopolist do if she is currently producing where MC < MR?
a. Increase output until MC = MR. b. Decrease output until MC = MR. c. Shut down in the long run. d. Keep producing at this level. e. Operate only in the short run.
An unexpected decrease in the demand for accountants will lead to
a. an increase in the earnings of accountants. b. an increase in the incentive of students to prepare for a career in accounting. c. a reduction in the future supply of accountants. d. an increase in the employment opportunities of accountants.
Making more frequent, but smaller cash withdrawals from banks ________ the inflation losses from holding cash and ________ the shoe leather costs of inflation.
A. reduces; increases B. increases; increases C. reduces; has no impact on D. increases; reduces