The financial account is defined as
A) the value of the country's net sales of assets.
B) the sum of net exports, net income received from investments abroad, and net transfers abroad.
C) the sum of gross income received from investments abroad and as net transfers abroad.
D) net transfers abroad.
A
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Reserves are defined as
a. the total cash in bank vaults b. money deposited in Federal Reserve accounts c. the sum of vault cash and deposits at Federal Reserve banks d. the total amount of money a bank must hold e. ten percent of demand deposit liabilities
Game theory is useful to analyze oligopoly markets because a. each firm is a price taker
b. the market is comprised of a single firm. c. the firms in the market engage in strategic behavior. d. each firm produces a differentiated product.
Money is not considered to be an economic resource because:
A. money is not a free gift of nature. B. the terms of trade can be determined in nonmonetary terms. C. idle money balances do not earn interest income. D. as such it is not productive.
Which of the following is a positive statement?
A) An unemployment rate of 5.8 percent is too high. B) The unemployment rate is 5.8 percent. C) The unemployment rate should be below 5.8 percent. D) The unemployment rate should never be above 5.8 percent.