In a country's balance of payments, which of the following items will be recorded as a debit entry?
A. Domestic bank balances owned by foreigners are reduced
B. Securities are sold by domestic residents to nonresidents
C. Foreign bank balances owned by domestic residents are reduced
D. Assets owned by domestic residents are sold to nonresidents
Answer: A
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Answer the following statement(s) true (T) or false (F)
1. If the mpc is 0.8 and government spending increases by $10 billion, equilibrium Y will increase by $50 billion. 2. Decreasing taxes is an example of expansionary fiscal policy. 3. Most of the U.S. government debt is owed to foreign countries. 4. The HDI is an index of well-being. 5. The deficit is the sum of yearly government debts since 1776.
Using the average price and average quantity, what is the elasticity of demand for oranges when the price of oranges changes from $200 to $160 per bushel and so the quantity demanded changes from 1000 to 1400 bushels?
A) 1.5 B) 0.1 C) 10.0 D) 0.67