All else equal, when the Federal Reserve Banks engage in a restrictive monetary policy, the prices of government bonds usually:

What happens in a perfectly competitive industry when economic profit is greater than zero?

A) Existing firms may get larger. B) New firms may enter the industry. C) Firms may move along their LRAC curves to new outputs. D) There may be pressure on prices to fall. E) All of the above may occur.

If you go to Europe to work and send funds home to your family living in the United States, this is known as a

A) service import. B) merchandise import. C) service export. D) unilateral transfer.