Which of the following is a deficit item on the U.S. balance of payments accounts?
A) A U.S. firm sells a product to a Mexican firm.
B) An Italian tourist in Miami purchases a beach ball.
C) A Spaniard buys 100 shares of Ford stock.
D) A U.S. resident buys gold from the Japanese central bank.
D
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If the firms in an industry could take advantage of a reduced wage, how would one best describe the firms' demand for labor? The MRPL
A) schedule would remain unchanged, and the firms would hire more labor at the lower wage. B) schedule would shift to the left and the firms would move down the new schedule. C) schedule would shift to the right and the firms would move down the new schedule. D) none of the above
The law of diminishing marginal utility implies that the marginal utility of my tenth pistachio nut is less than the marginal utility of my third pistachio nut, other things constant
a. True b. False Indicate whether the statement is true or false