Which of the following transactions would be recorded as a credit in the U.S. current account?
A. a Japanese bank's purchase of IBM stock
B. a Japanese consumer's purchase of an Apple computer
C. an American tourist's payment to a Japanese hotel
D. an American consumer's purchase of a Toshiba VCR
Answer: B
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How does a contractionary monetary policy affect the labor demand curve in an economy?
What will be an ideal response?
Refer to Figure 28-8. A typical long-run Phillips curve would have the appearance of a curve running through points
A) A and B. B) A and C. C) B and C. D) A, B, and C.
Economists who study economic mobility have found that, if a father earns 20 percent above his generation's average income, his son will most likely earn
a. an income equal to his generation's average income. b. 8 percent above his generation's average income. c. 5 percent below his generation's average income. d. 3 percent above his generation's average income.
A nation's official reserves:
A. compensate for differences in the current and capital and financial accounts. B. consist of all domestic and foreign currency held by a nation's central bank. C. are always zero. D. are always negative.