The Statistical Discrepancy in the Balance of Payments Is

question 131

Multiple Choice

The statistical discrepancy in the balance of payments is:

• A)always positive.
• B)always negative.
• C)always zero.
• D)positive,negative,or zero.
• E)indeterminate.

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Definitions:

Marginal Cost

The increment in sum total cost that comes with the production of an additional single unit of a good or service.

Marginal Revenue

The boost in revenue achieved by selling an additional unit of a good or service.

Price Taker

A buyer or seller that is unable to influence the market price of a product or service.

Marginal Revenue Curve

A graphical representation showing how the revenue from selling one more unit of a good or service changes as production volume changes.