In 2008, the U.S. current account balance was -$706 billion, net interest was +$119 billion, net transfers were -$128 billion, and exports were +$1,827 billion. Therefore, imports were
A) -$1,112 billion.
B) +$1,112 billion.
C) -$2,524 billion.
D) +$2,780 billion.
E) +$2,524 billion.
C
You might also like to view...
Expansionary fiscal policy in an open economy
A. leads to a balance of trade surplus. B. decreases America’s capital account surplus and the current account deficit by the same amount. C. increases both America’s capital account surplus and current account deficit by equal amounts. D. increases America’s capital account surplus more than it increases the current account deficit.
In which of the following situations is there most likely to be a monopsony?
A) the market for farm workers in a large rural area B) the market for advertising executives in New York City C) the market for accountants in New York City D) the market for NBA players drafted out of college by one NBA team
One way investment banks differ from commercial banks is that investment banks
A) do not take in deposits. B) lend exclusively to households. C) only buy and sell mortgages. D) trade only in foreign exchange markets.
John just graduated law school and has two competing job offers. The first is in Phoenix and pays a salary of $150,000 . He has a similar job offer in Cleveland that pays $90,000 . Which pair of CPIs would make the two salaries have the same purchasing power?
a. 70 in Phoenix and 42 in Cleveland b. 68 in Phoenix and 34 in Cleveland c. 42 in Phoenix and 70 in Cleveland d. 34 in Phoenix and 68 in Cleveland