Economists need different models of the economy because:
A.
The economy behaves differently depending on how much time has passed after a demand shock
B.
We need a different model to analyze a positive demand shock than we need to analyze a negative demand shock
C.
The way economic performance is measured of changes over time
D.
Prices tend to be less flexible over time
A.
The economy behaves differently depending on how much time has passed after a demand shock
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The financial account is defined as
A) the value of the country's net sales of assets. B) the sum of net exports, net income received from investments abroad, and net transfers abroad. C) the sum of gross income received from investments abroad and as net transfers abroad. D) net transfers abroad.
Some years ago The Wall Street Journal reported that the government of Thailand "plans to launch a chain of more than 3,000 Thai restaurants world-wide over the next five years, with the largest number, more than 1,000, slated for the United States
" The Thai government will have a 30 percent minority stake in the restaurants and the rest will be given to Thai owners. The country's deputy commerce minister explains that the government will play an active role in drawing up menus, making sure that genuine Thai food is served and ensuring that 70 percent of supplies for the restaurants are imported from Thailand. Because the Thai government will be part owner of these restaurants, are these restaurants public goods?