All of the following would be considered a current account transaction EXCEPT the
A. exporting of goods.
B. importing of goods.
C. importing of capital.
D. importing of services.
Answer: C
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In the money market, in the short run in order to decrease the nominal interest rate, the Fed must
A) increase the discount rate. B) increase the quantity of money. C) decrease the quantity of money. D) decrease the demand for money. E) directly lower the interest rate and not change either the demand for money or the supply of money.
In 2014, which component of GDP had a negative value?
A) investment B) government spending C) net exports D) consumption
Which of the following statements about the Earned Income Tax Credit Program (EITC) program is FALSE?
A) On net the EITC discourages work by low- or moderate- income earners more than it rewards work. B) It provides rebates of Social Security taxes to low-income workers. C) Recipients who receive benefit payments under Social Security are also eligible for SSI. D) It is the largest poverty reduction program in the U.S..
Which of the following best defines foreign exchange?
a. a trade between two countries b. the market where exporting and importing activities take place c. the price of a currency relative to another currency d. the currency of another country used for trading e. the dollars that the United States uses to buy goods from other countries