What are the transactions that the balance of payments accounts record?
What will be an ideal response?
The current account records payments for imports of goods and services from abroad, receipts from exports of goods and services sold abroad, net interest income paid abroad, and net transfers abroad (such as foreign aid payments). The capital and financial account records foreign investment in the U.S. minus U.S. investment abroad. Any statistical discrepancy is also recorded in the capital account. The official settlements account records the change in U.S. official reserves.
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Refer to the scenario above. Using 2012 as the base year, what is the real GDP of the economy in 2012?
A) $57,500 B) $75,000 C) $45,000 D) $55,000
Refer to Table 9-8. Suppose that the data in the table above reflect the price levels in the economy. What is the inflation rate in between 2015 and 2016?
A) 2% B) 5% C) 10% D) 12% E) 20%
Compared to the Gini coefficient for income distribution, the value of the Gini coefficient for the distribution of wealth would be
a. higher. b. lower. c. zero. d. nearly identical.
In an economy with a population of 100 million persons, 40 million hold civilian jobs and 9 million are not working but are looking for a job. The number of persons in the civilian labor force is
A. 51 million. B. 60 million. C. 91 million. D. 49 million..