Utopia would be a debtor nation
a. if consumers in other countries bought goods and services from Utopia
b. only if it had a deficit in its current account
c. only if it had a deficit in its balance of goods and services
d. if it had a deficit in its balance of trade
e. if it had a deficit after adding together the balances in both its current account and its capital account
B
Economics
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For barter to occur there has to be
A) a commodity to serve as a medium of exchange. B) a single coincidence of wants. C) a double coincidence of wants. D) a formal market where prices are quoted.
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Which of the following goods is likely to have the least elastic demand over the relevant range of prices?
a. insulin b. eggs c. milk d. Pepsi Cola e. gasoline
Economics