Refer to the table below. The figure for net transfers indicates that the United States:
The following table contains hypothetical data for the U.S. balance of payments in a year. Answer the following question on the basis of these data. All figures are in billions of dollars.
U.S. goods exports +$390
U.S. goods imports -498
U.S. service exports +133
U.S. service imports -107
Net investment income +12
Net transfers -22
Capital account -5
Foreign purchases of U.S. assets +156
U.S. purchases of foreign assets -59
A. Received a net public and private transfer of $22 billion from the rest of the world
B. Sent a net public and private transfer of $22 billion in remittances to the rest of the world
C. Sent a net private transfer of $22 billion to the rest of the world
D. Received a net private transfer of $22 billion from the rest of the world
B. Sent a net public and private transfer of $22 billion in remittances to the rest of the world
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Specialization and exchange result from differences in productivity that lead to
A) self-sufficiency. B) comparative advantage. C) absolute advantage. D) opportunity cost.
The U.S. government has frequently used a "command-and-control" approach in dealing with pollution. Which of the following describes this approach?
A) The government imposes quantitative limits on the amount of pollution firms are allowed to generate. B) The government distributes information to consumers and producers on how to reduce pollution. C) The government uses subsidies to encourage firms to use new technology that reduces pollution. D) The government uses taxes in order to internalize the externalities caused by pollution.
Economic growth depends more on technological change than on increases on capital per hour worked
Indicate whether the statement is true or false
Economists refer to the series of induced increases in consumption spending that result from an initial increase in autonomous expenditures as the ________ effect
A) multiplier B) expenditure C) aggregate demand D) consumption