Country A's overall balance in the balance of payments equals:
a. Current account minus the financial account.
b. Reserves account minus the current account.
c. Reserves account plus the capital account plus the current account.
d. Current account plus capital account plus the financial account minus the reserves account.
e. Reserves account plus the financial account.
.D
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Which of the following statements is false?
A) Imports and exports account for over one-half of the GDP of the Netherlands. B) China is the leading exporting country, accounting for 10.3 percent of total world exports. C) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice, and corn crops. D) Japan is less dependent on foreign trade than is the United States.
A plan that sets targets to cover all major aspects of the national economy is known as a/an _____ plan:
(a) interindustry (b) complete (c) comprehensive (d) economic
The marginal propensity to consume rises as the absolute level of income increases
Indicate whether the statement is true or false
If the prices of energy products rise sharply, consumers will most likely
a. sharply reduce their consumption of these products in both the short run and the long run. b. reduce their consumption of these products slightly in the short run and more sharply in the long run. c. reduce their consumption of these products sharply in the short run, but in the long run consumption will fall by only a small amount. d. increase their consumption of these products slightly in the short run and more sharply in the long run.