The net international investment position reflects the domestic holding of foreign assets minus foreign holdings of domestic assets
Indicate whether the statement is true or false
TRUE
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Inventory accumulation occurs whenever
a. output is less than spending. b. output exceeds spending. c. investment exceeds saving. d. a deficit budget occurs.
The most important factor that influences total spending is
a. the interest rate b. real wealth c. expectations regarding future income d. the income tax rate e. real disposable income
If the marginal rate of substitution of X for Y is 2, the price of X is $3, and the price of Y is $1, a utility-maximizing consumer should
A. prefer 3Y to 1X. B. be indifferent between 1X and 2Y. C. choose less X and more Y. D. choose more X and less Y.
Who appoints the members of the Board of Governors of the Federal Reserve?
(A) The U.S. senate (B) The state legislatures of the states represented (C) The state governors (D) The U.S. President