In 2016, the city of Sylvester collected $800,000 in taxes and spent $200,000. In 2016, the city of Sylvester had a
A. budget deficit of $200,000.
B. budget surplus of $200,000.
C. budget surplus of $1,000,000.
D. budget surplus of $600,000.
Answer: D
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Suppose the current account of a country is in balance and the official settlements account equals 0. A new transaction occurs so that the current account is now in surplus, but the official settlements account does not change
From this we know that A) the balance of trade is now in surplus. B) the government is running a budget deficit. C) the capital and financial account is now in deficit. D) the government must make official reserve transactions.
Bob and Bill can make 16 toys each if they devote 8 working hours in a day. Further, Bob can repair 4 cars and Bill can repair 2 cars, if they devote 8 working hours in a day. What is the opportunity cost of repairing one car to Bill?
a. 10 toys b. 8 toys c. 16 toys d. 12 toys e. 4 toys
Assume an Australian importer expects to pay 16,000 Australian dollars (AUD) for $8,000 worth of U.S. goods, but on the shipment date 30 days later, the same volume of U.S. goods costs the Australian importer only 10,000 Australian dollars. This means that between the contract date and the payment date, the exchange rate has changed:
a. from $1 = 1.25 AUD to $1 = 2.0 AUD. b. from $1 = 2.0 AUD to $1 = 1.25 AUD. c. from $1 = 0.8 AUD to $1 = 0.5 AUD. d. from $1 = 0.5 AUD to $1 = 0.8 AUD. e. from $1 = 0.5 AUD to $1 = 2.0 AUD.
Open market operations generally involve the purchase and sales of
a. government securities. b. stocks and bonds. c. coins and currency. d. Federal Reserve notes.