A nation's capital and financial account:
A. contains inpayment items but not outpayment items.
B. includes service exports and service imports.
C. includes both inpayments and outpayments.
D. includes net investment income and net transfers.
C. includes both inpayments and outpayments.
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One advantage of a money system compared to a barter system is that
A. barter never works. B. money creates the need for banks. C. money is more efficient. D. everyone has money.
If cameras and film have a cross elasticity of .985, they are complements
Indicate whether the statement is true or false
The labor force is defined as
A. all individuals who are at least 16 years old and are currently employed or unemployed. B. all individuals who are at least 16 years old and are employed, looking for work or not looking for work. C. all individuals who are at least 16 years old and are currently employed. D. all individuals who are currently employed.
If a nation agrees to set an upper limit on the total amount of a product that it exports to another nation, then this situation would be an example of:
A. An import quota B. A revenue tariff C. A protective tariff D. A voluntary export restriction