In the balance of payments, any transaction that leads to a receipt by a resident of a country is a
A. surplus item.
B. deficit item.
C. debit item.
D. minus item.
Answer: A
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The price of an airline ticket rises as the amount of time between purchase and flight departure gets smaller. The airlines base the policy on the assumption that
a. consumers are not aware of airline prices. b. consumer demand is unrelated to prices. c. consumer demand becomes more elastic as departure time approaches. d. consumer demand becomes more inelastic as departure time approaches.
Refer to the data. Personal consumption expenditures:
A. cannot be calculated.
B. are $231.
C. are $225.
D. are $205.
The expenditure multiplier concept of the aggregate-expenditures model ________.
A. explains movement up or down the aggregate demand curve B. magnifies the shifts of the aggregate demand curve C. is not at all relevant in the AD/AS model D. reverses the shift of the aggregate demand curve
When an Egyptian firm purchases a cement mixer from Slovakia,
a. Egyptian investment does not change, Egyptian net exports decrease, Egyptian GDP decreases, Slovakian net exports increase, and Slovakian GDP increases. b. Egyptian investment increases, Egyptian net exports decrease, Egyptian GDP is unaffected, Slovakian net exports increase, and Slovakian GDP increases. c. Egyptian investment decreases, Egyptian net exports increase, Egyptian GDP is unaffected, Slovakian net exports decrease, and Slovakian GDP decreases. d. Egyptian investment increases, Egyptian net exports do not change, Egyptian GDP increases, Slovakian net exports do not change, and Slovakian GDP is unaffected.