Foreign aid, royalties earned abroad, and long-term capital flows are part of the current account

The presence of a learning curve may induce a decision maker in a startup firm to choose

A) low levels of output to exploit economies of scale. B) high levels of output to exploit economies of scale. C) low levels of output to shift the average cost curve down over time. D) high levels of output to shift the average cost curve down over time. E) to produce more than one output.

A situation in which firms choose their best strategy given the strategies chosen by the other firms in the market is called

a. a competitive equilibrium. b. an open-market solution. c. a socially-optimal solution. d. a Nash equilibrium.