An example of a deficit item on the U.S. balance of payments is
A) the sale of a carburetor made in Michigan to a Honda plant in Ohio.
B) a deposit in a bank in New York by a British firm.
C) a U.S. resident flies from New York to Rome on British Airways.
D) the payment of a dividend from a Canadian firm to an American living in Maine.
Answer: C
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According to the above table, the value of M1 is
A) $1,205 billion. B) $1,213 billion. C) $1,888 billion. D) $1,629 billion.
Which of the following does not hinder economic development?
a. low birth rates b. low saving c. lack of infrastructure d. low levels of technology e. the importance of tradition
In 2017, approximately what percent of Americans were below the poverty line?
A. 2 percent. B. 8 percent. C. 36 percent. D. 12 percent.
The quantity equation is always true because it:
A. has been empirically tested. B. is a law of economics. C. is the definition of velocity rewritten. D. has been historically verified.