When the balance of trade is in balance, we know with certainty that
A) the value of all debit transactions equals the value of all credit transactions.
B) the value of exports of goods equals the value of imports of goods.
C) the value of capital exports equals the value of capital imports.
D) the value of exports of goods and services equals the value of imports of goods and services.
B
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Suppose Mail Boxes Etc. buys a new copier for its store for $1000. A year later, when the firm wants to upgrade to a new copier, it finds that the old copier is only worth $750. Over the year the copier was used, ________ has occurred
A) replacement investment B) gross investment C) depreciation D) net investment
Economists use the term "marginal" to describe costs and benefits
a. that are minimal and hardly worth noting. b. that are incremental and thus relevant to decision making. c. that are noteworthy but not the most important. d. whose importance can be minimized through hard work. e. none of the above.