The current account surplus
A) is a decreasing function of disposable income and an increasing function of the real exchange rate.
B) is an increasing function of disposable income and an increasing function of the real exchange rate.
C) is an increasing function of disposable income and a decreasing function of the real exchange rate.
D) is a decreasing function of disposable income and a decreasing function of the real exchange rate.
E) is an increasing function of disposable income and a decreasing function of aggregate demand.
A
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Of the following market structures, which is the least competitive?
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
In today's world markets, poor developing countries tend to rely primarily on exports of
A) agricultural products. B) primary products. C) mineral products. D) manufactured products. E) high-tech products.
In the long run, firms in a competitive market
A) shut down because profit goes to zero. B) lose money. C) are not profit maximizing. D) earn zero economic profit.
Since 1960, real GDP has fluctuated to some extent; however, there has been virtually no overall growth when the entire time span is considered
a. True b. False