An example of an import of a service in the U.S. balance of payments would be when
A) an U.S. resident purchases a Japanese stereo.
B) a Norwegian traveling in the United States rides a trolley car in San Francisco.
C) a U.S. resident buying insurance from a firm in Toronto.
D) a U.S. firm purchases 100 shares of a Dutch firm.
Answer: C
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The demand curve of a monopolistically competitive producer is:
A. less elastic than that of either a pure monopolist or a pure competitor. B. less elastic than that of a pure monopolist, but more elastic than that of a pure competitor. C. more elastic than that of a pure monopolist, but less elastic than that of a pure competitor. D. more elastic than that of either a pure monopolist or a pure competitor.
Refer to the diagram. This economy will experience unemployment if it produces at point:
A. A.
B. B.
C. C.
D. D.
Suppose consumption is $60,000 when income is $90,000 and the MPS equals 0.25. When income increases to $100,000, consumption is
A. $90,250. B. $85,000. C. $70,000. D. $67,500.
Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.
Figure 33.5Refer to Figure 33.5. The domestic price of oil is $130 per barrel. This country imports 14 million barrels if the world price of oil is
A. $120. B. $125. C. $135. D. $140.