The current account is the record of
A) changes in the government's holdings of foreign currency.
B) the nation's exports but not its imports.
C) payments for imports, receipts for exports, net interest, and net transfers.
D) a nation's international trading, borrowing, and lending.
E) foreign investment in the nation minus the nation's investment abroad.
C
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If the price of a unit of output for a perfectly competitive firm is $5 and the profit-maximizing condition is met, then MPL/PL = MPK/PK = MPA/PA will be equal to
A. $5. B. $1.67. C. $0.20. D. $0.05.
An increase in the price of an input to a perfectly competitive industry will: a. increase price and reduce the number of firms
b. increase price and increase the number of firms. c. increase price and have an ambiguous effect on the number of firms. d. reduce the number of firms and have an ambiguous effect on price.