Consumer Reports' reviews of products:
A. reduce an inefficiency in the market.
B. allow more transactions that are valuable to buyers and sellers to take place.
C. credibly provide more information to market participants.
D. All of these statements are true.
D. All of these statements are true.
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An American consumer buys a French luxury product in New York. In the U.S. balance of payments accounts, this transaction directly appears in
A) the official settlements account. B) the imports part of the current account. C) the net transfers part of the current account. D) the capital and financial account.
Jerry spends his entire income on two goods, Bran and Tea. Every month he spends half of his income on each of these goods. Jerry's income elasticity of demand for Bran is -.75. What is the income elasticity of demand for Tea?
A) 2.75 B) 0.36 C) -2.75 D) Unknown with the information provided
If (T? G) = (X? IM), then (S? I)
A. is greater than zero. B. is zero. C. is less than zero. D. cannot be calculated.
According to the text, the average annual growth rate of real GDP during the 2000-2020 period was about ________ for advanced nations and about ________ for emerging and developing nations.
A. 1.5%; 3% B. 5%; 4% C. 7%; 2% D. 5%; 5%