A country's current account includes which of the following?
a. sales of assets to other countries
b. purchases of assets from other countries
c. all current automatic payments between countries
d. the country's trade balance
e. the balance available in the government's Treasury account
Ans: d. the country's trade balance
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If firms in an industry differentiated their products and made economic profits in the short-run, what other characteristic would be important to determine if this is an oligopoly or a monopolistically competitive market?
A) the number of firms in the market B) the number of close substitutes for the good being produced C) the number of buyers in the market D) if the good being sold is a normal or inferior good
When a price is presented in context to another, a firm is
A) discriminating. B) maximizing profits. C) marking up. D) framing.