The summary of the flows of goods, services, assets, and currency in and out of a country in a particular year is the ________________________.
Fill in the blank(s) with the appropriate word(s).
balance of payments
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Which of the following activities would impact the current account of the U.S. balance of payments?
a. The Ford Motor Company makes a direct investment in a foreign subsidiary. b. The International Federation of Robotics holds a convention in Las Vegas. c. The Royal Bank of Scotland loans money to an American firm. d. Bank of America purchases stock in a European company.
What does NAFTA stand for?
A. North African Fair Trade Association B. North American Free Trade Agreement C. North Atlantic Flat Tax Association D. North Atlantic Favored Trade Association
A monopolistic industry has
A. a single, unique product and blocked entry. B. a homogeneous product and easy entry. C. either a standardized product or differentiated products. D. many differentiated products and easy entry.
Which of the following is the best example of an activity that would be undertaken by an entrepreneur?
a. Buying and selling of stocks and bonds. b. Starting a new business. c. Working on an assembly line. d. Running for political office.