The current account is the record of
A) changes in the government's holdings of foreign currency.
B) the nation's exports but not its imports.
C) payments for imports, receipts for exports, net interest, and net transfers.
D) a nation's international trading, borrowing, and lending.
E) foreign investment in the nation minus the nation's investment abroad.
C
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The banking system in the U.S. is based on:
A) 100 percent reserve banking. B) fractional reserve banking. C) 0 percent reserve banking. D) none of the above.
If the short-run aggregate supply curve is shifting left:
a. the short-run Phillips curve is shifting left. b. the short-run Phillips curve is shifting right. c. the long-run Phillips curve is shifting right. d. the long-run Phillips curve is shifting left.
In presenting the idea of a demand curve, economists presume the most important variable in determining the quantity demanded is
A. the price of the product itself. B. the prices of related goods. C. consumer income. D. consumer tastes.