Which of the following is equivalent to the trade deficit?
a. Imports ? exports
b. Net capital inflow
c. Exports + imports
d. Net exports - imports
e. Exports ? imports
B
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if an extensive, efficient cotton-growing industry in Africa develops?
A) Decrease in demand B) Decrease in supply C) Increase in demand D) Increase in supply
Which of the following had the highest rate of growth during the period 1948-72?
A) West Germany B) Vietnam C) Japan D) The United States of America
Which of the following statements is (are) correct? The equilibrium interest rate is the rate that
a. equates the supply of loanable funds with the demand for loanable funds b. equates new saving with investment plus the bond-financed government surplus c. equates private savings with investment d. All of the above e. None of the above