A current account surplus can occur if ________, all other variables remaining unchanged
A) net exports is negative B) net transfer payments from abroad is positive
C) net national savings equals zero D) net factor income from abroad equals zero
B
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The relative amounts of the goods that will be exchanged for each other in trade refers to the nations'
A) autarky status. B) absolute advantages. C) terms of trade. D) production possibilities.
Assume the marginal propensity to consume (MPC) is 0.80 and the government increases taxes by $100 billion. The aggregate demand curve will shift to the:
a. left by $80 billion. b. right by $200 billion. c. right by $400 billion. d. left by $400 billion.
An increase in a country's capital stock relative to its work force is known as:
A. capital deepening. B. capital growth. C. capital improvement. D. capital augmentation.
Which of the following creates difficulties in making comparisons of real GDP across nations?
A. Each nation has a different population. B. Nations produce different goods and services. C. Relative prices differ sharply across countries. D. Nations often have different languages.