Technically there are no balance-of-payment deficits or surpluses because _____________.
Fill in the blank(s) with the appropriate word(s).
the current account deficit, by definition, will be balanced by a capital account surplus.
You might also like to view...
Redland produced 10 million tonnes of wheat in a certain year using a given stock of capital and efficiency units of labor
It was able to increase production to 15 million tonnes within two years without any increase in its capital stock or the number of efficiency units of labor. Suppose wheat is the only good produced in Redland. What is likely to be the reason behind the increase in production? Explain with a suitable diagram.
Given the total cost and total revenue curves in the above figure, what are the output levels at which the perfect competitor will earn a positive economic profit?
A) from 0 to 30,000 bushels B) from 0 to 60,000 bushels C) between 30,000 and 80,000 bushels D) over 80,000 bushels
In the above figure, which wage rate will yield the highest wage rates for particular workers?
A) W1 B) W2 C) W3 D) W3 - W2
If market signals result in pollution beyond the optimal level, then
A. The economy experiences government failure. B. The government is allocating resources inefficiently. C. A laissez faire approach will reduce the level of pollution. D. The market mechanism has failed to achieve efficiency.