In the period from 1990 to 1994, which of the following countries experienced a drop in national debt as percentage of GDP?

The current account balance is equal to

A) exports - imports - net interest + net transfers. B) exports - imports + net interest + net transfers. C) imports - exports + net interest - net transfers. D) exports - imports - net interest - net transfers. E) imports - exports + net interest + net transfers.

Suppose two goods coffee and creamer provide the consumer with utility but only if they are consumed in fixed proportions. An increase in the price of coffee will yield

a. a substitution effect and an income effect in opposite directions. b. a substitution effect and an income effect in the same direction. c. a substitution effect but no income effect. d. an income effect but no substitution effect.