The sum of the current account plus the capital and financial account plus the official settlements account equals
A) 100 percent.
B) U.S. official reserves.
C) U.S. exports.
D) zero.
E) government expenditures.
D
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Answer the following statement(s) true (T) or false (F)
1. Proponents of an environmentally adjusted measure of national income believe that environmental pollution linked to production should be recorded as a loss in the system of national accounts (SNA). 2. Improvements made to China’s environment in preparation for the Olympic Games in 2008 have been maintained and even enhanced over time. 3. The economic criteria concerned with minimizing resource use to achieve an objective is known as allocative efficiency. 4. Setting an air quality standard is an example of a command and control approach to improving the environment. 5. A tax imposed on emissions is an example of the market approach to pollution control.
When bond prices fall, interest rates rise.
Answer the following statement true (T) or false (F)
Import quotas:
Have the same effect on producers as export subsidies Can be considered to be a form of voluntary export restraints Require agreement between importing and exporting nations Set the number of units of a product that can be imported
We cannot predict the effect on the market clearing price, but know that the equilibrium quantity will decrease when
A. supply and demand for a product simultaneously decrease. B. supply decreases and demand increases. C. supply increases and demand decreases D. supply and demand for a product simultaneously increase.