"Net transfers of private money" most often represent
A. purchases by foreigners of U.S. export goods.
B. money sent home by foreign workers in the U.S.
C. purchases by foreigners of physical capital in the U.S.
D. purchases of foreign-produced goods and services by U.S. citizens.
Answer: B
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Printing money to meet government budget deficits:
A) helps combat inflation. B) increases real income. C) increases the demand for money. D) acts as a tax on the citizens in an economy.
U.S. dollar bills
A) are backed by gold. B) are backed by silver. C) are backed by platinum. D) are backed by uranium. E) are not backed by any precious metal.
Which of the following characteristics is common to monopolistic competition and perfect competition?
A) Each firm faces a downward-sloping demand curve. B) Entry barriers into the industry are low. C) Firms take market prices as given. D) Firms produce identical products.
The GDP deflator for years subsequent to the base year measures the change in
a. nominal GDP from the base year that cannot be attributable to a change in real GDP. b. real GDP from the base year that cannot be attributable to a change in nominal GDP. c. nominal GDP from the base year that cannot be attributable to a change in prices. d. real GDP from the base year that cannot be attributable to a change in prices.