Which of the following transactions would be excluded in the capital account?
A. A Japanese citizen purchases a U.S. Treasury bill.
B. A Japanese citizen purchases an office building in Manhattan.
C. A U.S. citizen purchases a share of stock from a Japanese company.
D. An American purchases a Toyota.
Answer: D
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A sales tax imposed on tires ________ consumer surplus and ________ producer surplus
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change; does not change
Which of the following is correct about marginal and average products?
A) When the marginal product is increasing, the average product must be increasing. B) When the marginal product exceeds the average product, the average product must be increasing. C) When the average product is increasing, the marginal product must be decreasing. D) When the marginal product is decreasing, the average product must be decreasing. E) When the marginal product is increasing, the average product must be decreasing.
An adverse supply shock would directly ________ labor productivity by changing the amount of output that can be produced with any given amount of capital and labor
It would also indirectly ________ average labor productivity through changes in the level of employment. A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Rational expectations theory suggests that ________
A) policy announcements can impact behavior B) policy announcements have no impact on behavior C) unannounced policies have no impact on behavior D) the optimal forecast is identical to the announced policy