The deficit in the U.S. current account in recent years has been reinforced by a deficit in the U.S. capital account
Indicate whether the statement is true or false
false
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The table gives data on the production and prices in a small economy. Use 2012 as the base period
a. What does nominal GDP equal in 2012? b. What does real GDP equal in 2012? c. What does nominal GDP equal in 2013? d. Using the chained-price method, what does real GDP equal in 2013?
In a society, if negotiation among parties leads to a politically unsatisfactory distribution of income:
a. the legislature can enact laws to redistribute this income. b. the society can on its own reallocate resources to bring about a politically satisfactory outcome. c. the parties will renegotiate until they reach a politically satisfactory outcome. d. the parties will refuse to carry out future transactions.
The view that changes in the money supply is the primary cause of change in real output and the price level is most closely associated with:
A. Rational expectations theory B. Real business cycle theory C. Mainstream economics D. Monetarism
Refer to the table below. The balance of trade in goods and services was:
The following table contains hypothetical data for the U.S. balance of payments in a year. Answer the following question on the basis of these data. All figures are in billions of dollars. U.S. goods exports +$390 U.S. goods imports -498 U.S. service exports +133 U.S. service imports -107 Net investment income +12 Net transfers -22 Capital account -5 Foreign purchases of U.S. assets +156 U.S. purchases of foreign assets -59 A. $107 billion surplus B. $82 billion deficit C. $115 billion deficit D. $55 billion surplus