In an open economy, national saving equals
a. domestic investment plus net capital outflow.
b. domestic investment minus net capital outflow.
c. domestic investment.
d. net capital outflow.
a
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If a professor gives up her job to open a shoe store, which of the following costs would an accountant tend to ignore?
A) The $1,500 per month lease for the shoe store. B) The $150 per month electricity bill. C) The $4,000 per month of income forgone by not being employed as a professor. D) The $200 business license, which, of course, is a sunk cost.
Which of the following statements best describes firms under monopolistic competition?
a. There is little price or quality competition. b. The firms compete, using quality, location, advertising, and price. c. Firms do not compete using advertising. d. There is little competition between firms.