When the balance of trade is in balance, we know with certainty that
A. the value of capital exports equals the value of capital imports.
B. the value of exports of goods and services equals the value of imports of goods and services.
C. the value of all debit transactions equals the value of all credit transactions.
D. the value of exports of goods equals the value of imports of goods.
Answer: D
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The quantitative difference between areas Q1bcQ2 and p1p2ba in the diagram measures
A. marginal cost. B. total revenue. C. marginal revenue. D. average revenue
An increase in the corporate profits tax will most likely lead to
a. a decrease in the rental rate of capital in the corporate sector. b. no change in the rental rate of capital in the corporate sector. c. no change in the rental rate of capital in the non-corporate sector. d. an increase in the rental rate of capital in the corporate sector.
The mutually understood standards that people follow from experience are called norms
Indicate whether the statement is true or false
The Great Recession started in the:
a. U.S. real goods sector. b. U.S. real loanable funds market. c. Foreign exchange market. d. Global real goods market. e. All of the above.