In the balance of payments, a deficit item is any transaction
A) that leads to a receipt by a resident of a country or its government.
B) that leads to a payment by a resident of a country or its government.
C) that is an export of a good or service.
D) that makes residents of a country worse off.
B
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When the Fed conducts open market operations, it buys and sells:
a. stocks. b. government securities. c. foreign currency d. gold.
According to the ____ school of thought, it is in people's self-interest to acquire, process, and respond to information which affects their economic well-being and to not repeat previous errors in action.
A. supply-side B. economic behaviorists C. Keynesian D. rational expectations
Tax revenues are an advantage of ________, which are not offered by command-and-control policies.
A. pollution allowances B. tradeable pollution permits C. pollution taxes D. pollution tax credits
Under a flexible exchange rate system, a decrease in the value of a domestic currency in terms of foreign currencies is referred to as
A. a devaluation. B. a revaluation. C. a depreciation. D. an appreciation.