Which of the following would decrease the current account balance of the United States?
A) a decrease in the amount of money the U.S. government sends in foreign aid to other countries
B) a decrease in imports
C) a decrease in the amount of income U.S. companies pay out to foreigners who own investments in the U.S.
D) a decrease in the balance of trade
D
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The demand for a good is more price inelastic if
A) its price is higher. B) the percentage of income spent on it is larger. C) it is a luxury good. D) it has no close substitutes.
Withholding of the federal income tax _____
a. was first used during the civil war b. was first used during World War I c. was first used during World War II d. was first used after World War II
The government forcing a monopoly telecommunications company to allow other firms to use its cables is an attempt to
A) regulate prices. B) decrease the monopoly market power by eliminating a natural monopoly. C) decrease the monopoly market power by increasing competition. D) None of the above.
An import quota taxes an import but does not set a limit on how much may be imported
a. True b. False