Which of the following transactions would impact the category of U.S.-owned assets abroad?
a. A U.S. resident purchases stock in a Dutch oil company.
b. The U.S. Treasury sells bonds to Canadian investors.
c. An American firm in Detroit buys oil from Saudi Arabia.
d. An importer in Mexico purchases U.S. merchandise.
a. A U.S. resident purchases stock in a Dutch oil company.
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
If the saving rate decreases, break-even investment will be ________ than investment, and the capital-labor ratio will ________
A) greater; increases B) greater; decreases C) less; increases D) less; decreases
In order to maximize profits, a firm should decrease output whenever total cost exceeds total revenue
a. True b. False
Which of the following programs would be opposed by philosopher John Rawls?
a. a negative income tax b. the Supplemental Security Income (SSI) program c. a tax plan creating a perfectly egalitarian income distribution d. Rawls would oppose all of the programs.