A nation's official reserve transaction account
A) is always a positive number.
B) is always a negative number.
C) is always equal to zero.
D) compensates for the differences in the current and capital accounts.
D
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The Romer model suggests that there is a trade-off between ________
A) the use of resources in research and development and the productiveness of R&D B) the rate of saving and the long-run growth of output C) per capita output in the short-run and long-run D) the size of the total population and the saving rate
An increase in the money supply and a decrease in real GDP at the same time is consistent with the equation of exchange if: a. velocity rises rapidly enough
b. velocity falls rapidly enough. c. the nominal GDP rises rapidly enough. d. the price level falls rapidly enough.
Gain from trade is the increase in total production due to specialization allowed by trade.
Answer the following statement true (T) or false (F)
An unexpected decrease in nonlabor income will have ________ effect on a household's consumption.
A. a positive B. a negative C. no D. an uncertain