Which of the following items is NOT a deficit item in the balance of payments?
A) imports of merchandise
B) sales of domestic assets to foreigners
C) purchases of gold from foreigners
D) military spending abroad
B
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The U.S. economy would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas
Indicate whether the statement is true or false
Unlike business, government can coerce individuals to paying higher prices through taxes
Indicate whether the statement is true or false
Over the past twenty years the Fed's policy experience
a. has been good and improving b. is an indicator that economic policy is confused c. shows a focus on full employment d. reveals a lack of concern about unemployment e. has been generally poor and deteriorating
A country with a lower relative cost of production of a particular good has a(n) _______ advantage and it is likely to _______ this good.
A) absolute; import B) comparative; import C) comparative; export D) absolute; not export