The net balance on the balance of payments accounts:
a. always shows a surplus.
b. always shows a deficit.
c. is always zero.
d. is either positive or negative.
e. is arrived at without considering omissions and errors in transactions.
c
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A shoe manufacturer is producing at a point where its marginal costs are $5 and its fixed costs are $5000 . At the current price of $10 it is producing 500 pairs. If the demand goes down, such that they can now only charge $8 per pair, should they continue production in the short run?
a. No because price has fallen b. Yes because price is still higher than marginal costs c. No because price is lower than average cost d. Yes because price is higher than marginal costs
When there is an abrupt increase in the rate of inflation,
a. the actual rate of inflation will tend to fall below the natural rate. b. the actual rate of inflation will tend to rise above the natural rate. c. the actual and natural rate of inflation will generally be equal. d. the natural rate of unemployment will tend to rise.