An example of a deficit item on the U.S. balance of payments is
A) the sale of a carburetor made in Michigan to a Honda plant in Ohio.
B) a deposit in a bank in New York by a British firm.
C) a U.S. resident flies from New York to Rome on British Airways.
D) the payment of a dividend from a Canadian firm to an American living in Maine.
Answer: C
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Technological change and labor productivity are negatively related
a. True b. False Indicate whether the statement is true or false
A successful advertising campaign would likely
a. increase price elasticity of demand by stressing the uniqueness of the product. b. reduce price elasticity of demand by stressing the uniqueness of the product. c. reduce price elasticity of demand by informing consumers of the availability of substitutes. d. not alter the demand curve. e. generally make the demand curve shift inward.