Which of the following is not included as "net income" in the U.S. balance of payments?
a. Income paid by a U.S. company to foreign consultants.
b. Profits earned by U.S. companies from foreign operations.
c. Foreign dividends received by U.S. residents.
d. Profits earned by U.S. companies from foreign operations and reinvested abroad.
e. All the above are includedas net income in the U.S. balance of payments.
.E
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Which of the following is not a derivative?
A) Treasury bond futures B) Common stock C) Swaps D) Options
The upward-sloping character of the labor supply schedule assumes that the ________
A) the substitution effect is equal to the income effect B) the substitution effect is larger than the income effect C) the substitution effect is smaller than the income effect D) the ratio of real wages to the marginal product of labor is equal to the equilibrium nominal wage