The account that records foreign investment in the United States minus U.S. investment abroad is the
A) capital and financial account.
B) official settlements account.
C) current account.
D) U.S. official reserves account.
A
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Which of the following is true about a nation’s production possibilities curve?
a. a point inside the curve is a combination of products that is currently impossible to produce. b. a point outside the curve is a combination of products that is below capacity. c. a rightward shift of the curve illustrates economic growth. d. full employment is illustrated by a point inside the curve.
GDP is different than GNP in that
A) it accounts for net unilateral transfers. B) it does not account for indirect business taxes. C) it does not account for a country's production using services with foreign-owned capital. D) it accounts for depreciation. E) it is unhelpful when tracking national income.
The action taken by a country's central bank to prevent balance of payments policies from influencing the country's domestic money supply is called a:
A) fiscal policy intervention. B) monetary policy intervention. C) sterilized intervention. D) non-sterilized intervention.
Mitchell's money income is $150, the price of X is $2, and the price of Y is $2. Given these prices and income, Mitchell buys 50 units of X and 25 units of Y. Call this combination of X and Y bundle J. At bundle J, Mitchell's MRS is 2. Given these prices and income, what is Mitchell's equilibrium consumption of X?
A. X = 50 B. X > 50 C. X < 50 D. None of the statements is correct.