The last year we did not have a deficit in our current account was
A. 1960.
B. 1973.
C. 1986.
D. 1991.
D. 1991.
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The data below relates to a pure monopoly and the product it produces. What is the profit-maximizing output and price for this firm?
A. P = $15; Q = 3
B. P = $12; Q = 5
C. P = $18; Q = 2
D. P = $14; Q = 4
The money supply and money demand curves are _____ and ______ respectively. a. Vertical; downward sloping
b. Upward sloping; vertical c. Upward sloping, downward sloping d. None of the above
One thing that distinguishes normative economic principles from positive economic principles is that:
A. normative principles tell us how people will behave, and positive principles tell us how people should behave. B. normative principles are pessimistic and positive principles are optimistic. C. normative principles tell us how people should behave, and positive principles tell us how people will behave. D. normative principles reflect social norms, and positive principles reflect universal truths.
The Fed's revenue comes:
A. from Congressional appropriation. B. solely from taxes placed on member banks. C. from internally generated funds from interest on securities it holds and fees charged to banks for payments system services. D. from the Department of Commerce.