If all government budgets are balanced, and S is greater than I, then
A) the net international investment position must be positive.
B) the financial account must be positive.
C) the financial account must be negative.
D) the net international investment position must be negative.
E) Both A and B.
C
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Suppose the current equilibrium wage rate for landscapers is $6.65 in Little Rock; $7.50 in St. Louis and $9.05 in Raleigh. An increase in the minimum wage to $7.50 per hour results in unemployment of landscapers in
A) Little Rock and St. Louis. B) only Raleigh. C) Little Rock, St. Louis, and Raleigh. D) only Little Rock. E) St. Louis and Raleigh.
Which of the following is true of fiscal policy before the Great Depression of the 1930s?
a. Fiscal policy was made at the federal level. b. Policies associated with national defense were made at the state level. c. Environmental degradation and education were the focus areas of the federal government while other areas of government policy were dealt by individual states. d. The federal budget was determined mostly by economists and not by politicians. e. National defense and foreign trade were the focus areas of the federal government while other areas of government policy were dealt by individual states.
Each of the following is an industrial country except
A. Belgium. B. Germany. C. Vietnam. D. Sweden.
A monopolist's demand curve is
A) perfectly elastic. B) perfectly inelastic. C) of unit elasticity throughout. D) the industry demand curve.