The net increase in a country's stock of international reserves over a year is called a(n):
A. trade surplus.
B. balance-of-payments deficit.
C. trade deficit.
D. balance-of-payments surplus.
Answer: D
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Two years ago, the GDP deflator for Old York was 300, and today it is 330.75. Based on this information the annual average inflation rate for the two years was
A) 5%. B) 5.125%. C) 10%. D) 10.25%.
The consumption function shows the relationship between
a. planned consumption expenditures and disposable income. b. permanent income and savings. c. business inventory and real GDP. d. aggregate demand and aggregate consumption.
Studies have concluded that NAFTA caused ________ in economic welfare to Canada.
a. a gain b. a loss c. no change d. first a gain, then a loss
Which would most likely shift the aggregate supply curve? A change in the prices of:
A. Domestic products B. Foreign products C. Financial assets D. Resources