Net foreign factor income is ________.
A. the income people in a country receive from resources owned in foreign countries
B. the income people in foreign countries receive from resources owned domestically
C. the difference between the values of a country's exports and imports
D. the difference between the income people in a country receive from resources owned in foreign countries and the income people in foreign countries receive from resources owned domestically
Answer: D
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Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they are willing to sell for: Firm A $6, Firm B $7, Firm C $10, and Firm D $12
If the market price is $11 then the market supply for this good will be A) 3 units. B) 4 units. C) 1 unit. D) 2 units.
According to the Taylor rule, if real GDP rises by 1 percent above potential GDP, the Fed should raise:
A. The supply of money by 10 percent B. The velocity of money by 10 percent C. The natural rate of unemployment from 4 percent to 5 percent D. The Federal funds rate, relative to the current inflation rate, by 0.5 percent