Suppose the current account of a country is initially in balance. A new transaction occurs so that the current account is now in surplus. Official reserve balance is maintained before and after the transaction occurs. From this, we know that
A) the balance of trade is now in surplus.
B) the balance of goods and services is now in surplus.
C) the financial account is now in deficit.
D) the government must make official reserve transactions.
Answer: C
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Which of the following statements is true of the Industrial Revolution?
A) It was a gradual process. B) It started in the capital goods industry. C) It was a period of rapid disruption. D) It started in the United States.
The first step in the evolution of money involved the use of _____
a. physical commodities b. barter c. pieces of paper representing claims on physical commodities d. pieces of paper with no intrinsic value e. electronic entries representing claims on pieces of paper with no intrinsic value
The number of substitutes available has hurt the business of the United States Postal Service.
a. true b. false
Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the accompanying table below.Hours in East OrchardNumber of Apples Per HourHours in West OrchardNumber of Apples Per Hour140110232210325310420410 If Frank spends 2 hours picking apples in the east orchard and 2 hours picking apples in the west orchard, how many apples in total will Frank be able to pick today?
A. 21 B. 42 C. 92 D. 84