In the balance of payments, any transaction that leads to a receipt by a resident of a country is a
A) minus item.
B) debit item.
C) surplus item.
D) deficit item.
Answer: C
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Suppose the government increases spending on public education by $700 million and individual spending on private education drops by $500 million. This is an example of
A) incomplete crowding out. B) complete crowding out. C) zero crowding out. D) a and c E) none of the above
Using the annuity rule, it follows that an annuity with a present value of $100 and an annual payment of $20 must have an interest rate of:
A. 10 percent. B. 20 percent. C. 5 percent. D. 2 percent.
The demand function recognizes that the quantity of a good consumed depends on:
A. price and supply shifters. B. demand shifters only. C. demand shifters and price. D. the prices of other goods only.
Refer to Figure 4.6, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, if the market quantity supplied is 50, the price must be:
A. $0. B. $10. C. between $10 and $20. D. $30.