We currently run a negative trade balance in ______ and a ______ trade balance in services.
Fill in the blank(s) with the appropriate word(s).
merchandise; positive
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Cable television companies must pay increased charges by the networks for the programs the cable companies carry. As a result, the price of cable television rises. Thus
A) the demand curve for cable television service shifts rightward. B) the demand curve for cable television service shifts leftward. C) there is a movement down the demand curve for cable television to a higher quantity demanded. D) there is a movement up the demand curve for cable television to a smaller quantity demanded.
The PPP theory fails in reality for all of the following reasons EXCEPT
A) transport costs. B) monopolistic or oligopolistic practices in goods markets. C) the inflation data reported in different countries are based on different commodity baskets. D) restrictions on trade. E) inflation rates are unrelated to money supply growth.
Price for a 27 TV = $450. Consumers buy 1000 of them, prices rises to $550 by 600 of them. What is the price elasticity of demand in this range?
What will be an ideal response?
A firm combines two resources, X and Y, to produce an output level Q in a purely competitive market. The cost of a unit of X is $20 and the cost of a unit of Y is $4. The marginal product of X is 100 units and the marginal product of Y is currently 16
units at output level Q. What would you recommend that the firm do given this resource combination? What will be an ideal response?