When the United States has a deficit on its current account, this means that
A. the dollar value of goods exported must exceed the dollar value of goods imported.
B. in this year, Americans supplied more dollars than were demanded by foreigners for purchasing American goods and services and for interest and investment income.
C. in this year, Americans supplied fewer dollars than were demanded by foreigners for purchasing American goods and services and for interest and investment income.
D. the dollar value of goods imported must exceed the dollar value of goods exported.
B. in this year, Americans supplied more dollars than were demanded by foreigners for purchasing American goods and services and for interest and investment income.
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Tax cuts proposed by the Kennedy and Reagan administrations were followed by robust economic growth
a. True b. False Indicate whether the statement is true or false
Most, but not all, athletic apparel sold in the United States is imported from other nations. If the price of athletic apparel increases, the GDP deflator will
a. increase less than will the consumer price index. b. increase more than will the consumer price index. c. not increase, but the consumer price index will increase. d. increase, but the consumer price index will not increase.
Commercial banks are able to create money because
What will be an ideal response?
Which statement is false?
A. There are now nine federal personal income tax brackets. B. Most people pay more in Social Security tax than in personal income tax. C. We pay more in direct than indirect taxes to the federal government. D. None of these statements are false.