Which of the following is true of the balance of payments accounts?
a. It records only the trade in tangible assets between any two nations.
b. It is a record of a country's merchandise trade.
c. It records the total external debt used to finance government budget deficits.
d. It is recorded biannually in most developed countries.
e. It records a country's trade in goods, services, and financial assets with the rest of the world.
e
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The most commonly used tool of monetary policy in the U.S. is ___________ market operations.
a. open b. closed c. private d. public
Which of the following likely occurs when households and firms become more pessimistic?
a. increased spending, increased aggregate demand, rising real GDP, and a rising unemployment rate b. decreased spending, increased aggregate demand, rising real GDP, and a falling unemployment rate c. decreased spending, decreased aggregate demand, falling real GDP, and a rising unemployment rate d. decreased spending, decreased aggregate demand, falling real GDP, and a falling unemployment rate
Which of the following would not change the demand for automobiles?
A) a change in the price of gasoline B) a change in the cost of steel C) a change in the price of motorcycles D) a change in tastes
Table 5.2National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$2,850Exports$300Government purchases of goods and services$810Social Security taxes$295Net investment$510Indirect business taxes$445Imports$450Gross investment$700Corporate income taxes$190Personal income taxes$875Corporate retained earnings$210Net foreign factor income$0Government transfer payments to households$780Net interest payments to households$20On the basis of Table 5.2, national income is
A. $3,785 billion. B. $4,020 billion. C. $3,595 billion. D. $2,475 billion.