A deficit in the overall balance of payments of a nation generally is an indication that
A. the country's monetary authority is selling domestic government bonds.
B. the country's monetary authority is buying domestic government bonds.
C. the country's monetary authority is buying foreign currency.
D. the country's monetary authority is selling foreign currency.
Answer: D
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If there is a decrease in both the supply and demand for a good, which of the following will definitely occur?
a. The price of the good will increase. b. The price of the good will decrease. c. The equilibrium quantity will increase. d. The equilibrium quantity will decrease.
Large scale family farms represent about 10% of all farms and produce:
a. Over half of the value of farm production b. About 10% of the value of production c. Less than 10% of the value of production d. About 20% of the value of production
The U.N.'s Millennium Poverty Goal is to
A. Keep the number of people in poverty at a constant level. B. Cut the percentage of people in extreme poverty in half worldwide. C. Reduce the percentage of people in severe poverty in the poorest nations. D. Cut the absolute number of people in extreme poverty in half worldwide.
Which of the following statements is true?
A. Free trade will benefit all workers in a nation equally. B. As a result of specialization some workers will be displaced and harmed in the short run by free trade. C. Free trade leads to lower wages for all workers in both nations. D. Specialization will result in a decline in an industry and none of those workers will be able to find other jobs.