In 2011, the net financial account balance was approximately
A) $790 billion.
B) -$790 billion.
C) $394 billion.
D) -$394 billion.
C
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The U.S. dollar will appreciate if
a. the U.S. demand for foreign exchange decreases. b. the U.S. demand for foreign exchange increases. c. the U.S. supply of foreign exchange decreases. d. Americans want to buy more foreign goods. e. foreigners want fewer American goods.
If the federal government is running a budget deficit,
a. the national debt will decline. b. it will have to either raise taxes or reduce expenditures next year. c. the U.S. Treasury will finance the deficit by issuing additional bonds. d. the supply of money will increase and the general level of prices will rise.
Which statement is false?
A. The supply of urban land increases in response to increases in demand. B. Most economists think rent should be abolished. C. Pierre-Joseph Proudhon and Henry George took similar stands on rent. D. Economic rent is the payment above the minimum necessary to attract a resource to the market.
Compared to the perfectly competitive outcome, monopolistically competitive markets will result in:
A. a wider variety of products and higher prices. B. less product variety and higher prices. C. a wider variety of products and lower prices. D. less product variety and lower prices.