A deficit in a country's current account balance occurs whenever
A. money outflows from the country exceed its money inflows.
B. money inflows into a country exceed its money outflows.
C. its currency falls in value relative to other currencies.
D. the country is alone in maintaining a strict gold standard.
A. money outflows from the country exceed its money inflows.
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Which of the following does not correctly characterize modern economic growth?
A. It has occurred only in the last 200 or so years. B. It has not affected the average lifespan of human beings. C. It drastically alters the culture and politics of society. D. It spread slowly across the globe, with some societies not having experienced it yet.
What effect does a depreciation of the dollar have on real GDP in the United States in the short run?
A) Real GDP will be unaffected by the depreciation of the dollar. B) Real GDP will rise. C) Real GDP will be unchanged, but nominal GDP will rise. D) Real GDP will fall.
Refer to the payoff matrix below. Which of the following is true for Happy Campers?
A) The Low strategy dominates the Middle strategy
B) The High strategy dominates the Low strategy.
C) The Low strategy dominates the High strategy.
D) The Middle strategy dominates the Low strategy.
Which of the following transactions would count in GDP?
a. Kerry buys a new sweater to wear this winter. b. Patricia receives a Social Security check. c. Roberto gives his daughter $50 for her birthday. d. Latika sells $1,000 of Google stock. e. Karen buys a new car. f. Amy buys a used car.