When the U.S. current account has a deficit, international payments from the United States ________ U.S. international receipts
To cover the current account deficit, there must be a ________ in the combined capital and financial account and official settlements account.
A) equal; surplus
B) are less than; deficit
C) exceed; surplus
D) are less than; surplus
E) exceed; deficit
C
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The figure above shows the demand, marginal revenue, and marginal cost curves for Paul's Parrot Pillows, a single-price monopoly producer of pillows stuffed with parrot feathers. When Paul maximizes his profit, the price per pillow is
A) $70. B) $60. C) $40. D) $100. E) $30.
Jim recently graduated from college. His income increased tremendously from earning $500 . a year to $60,00 . a year. Jim decided that instead of renting he will buy a house. This implies that
a. Houses are normal goods for Jim b. Houses are inferior goods for Jim c. Renting and Owning are complementary for Jim d. Need information on the price of houses