The following are hypothetical data for the U.S. balance of payments. Use the data to calculate each of the following (assume credit balances):
a.Merchandise trade balance
b.Balance on goods and services
c.Balance on current account
d.Financial account balance
e.Statistical discrepancy
Billions of Dollars
Merchandise exports350.0
Merchandise imports2,425.0
Service exports2,145.0
Service imports170.0
Net income and net transfers221.5
Outflow of U.S. capital245.0
Inflow of foreign capital100.0
23. What is the crucial difference between inflation generated on the demand side versus inflation generated on the supply side? b . a. Demand-side inflation is short-lived, while supply-side inflation lasts for a long time Demand-side inflation leads to budget surpluses, while supply-side inflation contributes to budget deficits. C. Supply-side inflation is subject to control of policy makers, while demand-side inflation is beyond their reach. d. Demand-side inflation is normally accompanied by rising real GDP, while supply- side inflation may be accompanied by falling real GDP 24. Which of the following could trigger supply-side inflation? a. a decrease in the wage rate for all workers b. an increase in raw materials' prices c, an increase in productivity of capital d. an increase in the labor force 25. At the natural rate of unemployment, the long-run Phillips curve has a(n) a. vertical slope b. horizontal slope. c, upward slope. d. downward slope. D1 Do B Figure 1 Price Level D1 S Do Real GDP Which of the following is true about the economy depicted in Figure 1? a, It is experiencing supply-side inflation. b, Policy makers have chosen to fight inflation rather than unemployment. c, The increase in aggregate demand has increased prices but not real GDP. d, The slope of the aggregate supply curve embodies the trade-off between unemployment and inflation.2 x 2 matrices over R, considered as a group with respect to multi- plication. In (a)-(e) below, determine whether the given subset is a subgroup of GL(2, IR). (a) The subset consisting of matrices with determinant 1. (b) The subset consisting of matrices of the form (ba ) for a re number a. (c) The subset consisting of (non-singular) triangular matrices. (d) The subset consisting of those (non-singular) matrices where matrix entries are integers. (e) The subset consisting of those (non-singular ) matrices wheWrite 9 Sentences For Your Response: What are the four basic essential elements necessary in valid contract? What is consideration? The following list briefly describes the four requirements that must be met for a valid contract to exist. If any of these elements is lacking, no contract will have been formed. 1. Agreement. An agreement to form a contract includes an offer and an acceptance. One party must offer to enter into a legal agreement, and another party must accept the terms of the offer. 2. Consideration. Any promises made by the parties must be supported by legally sufficient and bargained-for consideration (something of value received or promised to convince a person to make a deal). 3. Contractual capacity. Both parties entering into the contract must have the contractual capacity to do so. The law must recognize them as possessing characteristics that qualify them as competent parties. 4. Legality. The contract's purpose must be to accomplish some goal that is legal and not against public policy. Even if all of the requirements for a valid contract are satisfied, a contract may be unenforce- able if the following requirements are not met. 1. Voluntary consent. The consent of both parties must be voluntary. For instance, if a contract was formed as a result of fraud, mistake, or duress (coercion), the contract may not be enforceable. 2. Form. The contract must be in whatever form the law requires. Some contracts must be in writing to be enforceable. These requirements typically are raised as defenses to the enforceability of an otherwise valid contract.A Moving to another question will save this response. Question 3 The term differential cost refers to: A cost which continues to be incurred even though there is no activity. A cost which does not involve any dollar outlay but which is relevant to the decision-making process. A difference in cost which results from selecting one alternative instead of another. The benefit forgone by selecting one alternative instead of another. 1 Moving to another question will save this response
