The balance of payments schedule can be expressed as
a. X(Yƒ, ?) ? Z(Y, ?) ? F(r ? rƒ) = 0
b. X(Yƒ + ?) + Z(Y, ?) ? F(r ? rƒ) = 0
c. X(Yƒ, ?) ? Z(Y, ?) + F(r ? rƒ) = 0
d. X(Yƒ, ?) + Z(Y, ?) + F(r ? rƒ) = 0
C
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Peet's Coffee and Teas produces some flavorful varieties of Peet's brand coffee. Is Peet's a monopoly?
A) No, Peet's is not a monopoly because there are many branches of Peet's. B) Yes, Peet's is the only supplier of Peet's coffee in a market where there are high barriers to entry. C) Yes, there are no substitutes to Peet's coffee. D) No, although Peet's coffee is a unique product, there are many different brands of coffee that are very close substitutes.
How does the original, simplified Keynesian model compare with modern Keynesian analysis?
A) The original Keynesian model assumed price flexibility whereas the modern analysis does not. B) In both cases, the short-run aggregate supply curve (SRAS) is horizontal. C) Modern analysis shows an upward sloping SRAS to reflect some price flexibility. The original Keynesian model's SRAS is horizontal and assumes sticky prices. D) all of the above