The summary of the flows of goods, services, assets, and currency in and out of a country in a particular year is
A. the balance of income statement.
B. the balance of payments.
C. the balance of trade.
D. the trade deficit.
B. the balance of payments.
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Assume that production from an electric utility caused acid rain and that the government imposed a tax on the utility equal to the cost of the acid rain. This is an example of
A) a Pigovian tax. B) the Coase Theorem. C) a transactions cost. D) a Pigovian subsidy.
Which of the following World War I (1914–18) institutions reappeared in various forms during the Great Depression and/or World War II (1941–45)?
(a) The U.S. Grain Corporation (b) The War Industries Board (c) The United States Housing Corporation (d) All of the above
Nations will attract investment and its citizens will engage in productive activities when the institutions and policies of that country
a. discourage market exchange. b. protect people and their property and enforce contracts even-handedly. c. abolish private property rights. d. all of the above.
Use the following table to answer the next question.Current AccountFinancial AccountCapital Account-$753,438 $30,696This country has a ________.
A. deficit in the financial account B. trade surplus C. surplus in the financial account D. deficit in the capital account