The capital account balance is equal to the negative of
A. Trade balance + unilateral transfers + net investment income.
B. Unilateral transfers + exports + imports.
C. Current account balance + exports + unilateral transfers.
D. Trade balance + current account balance + services balance.
Answer: A
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When the government's outlays equal its tax revenue, then the budget
A) is in deficit. B) is in surplus. C) is balanced. D) could be either in surplus or deficit. E) is legal only because expenditures equal tax revenues.
The most likely explanation of the recession of 1981-1982 was
A) an increase in energy prices. B) a collapse in investment spending. C) that it was an unfortunate byproduct of a decrease in inflation. D) a dramatic decrease in stock prices.
Describe the role of the President in the budgetary process prior to 1921 and the President's role in the budgetary process after 1921 . Explain why this change in process might have made sense
What will be an ideal response?
An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured workers dieting and exercising c. drivers of safer cars texting on their phones while driving d. borrowers investing their loan proceeds exactly as the bank requires