Refer to the table above. The current account balance is equal to
A) +$200 billion.
B) +$220 billion.
C) +$20 billion.
D) -$220 billion.
E) -$200 billion.
A
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Answer the following statement(s) true (T) or false (F)
1. In the long run, a competitive firm that experiences decreasing returns must earn negative profits after all factor shares are paid out. 2. Factors that are supplied relatively inelastically earn more rents than those supplied more elastically. 3. Both the competitive firm's demand curve for labor and the monopoly firm's demand curve for labor always slope downwards. 4. When production is subject to increasing returns to scale profit will be positive. 5. If demand for output rises, producers' surplus increases more for factors with elastic supply curves than for other factors.
Choosing from among the following, the worst recession was in
A. 1937-1938. B. 1980. C. 1990-1991. D. 2001.
Explain the difficulty with applying the benefits principle and give examples
What will be an ideal response?
The above figure shows a graph of the market for pizzas in a large town. At a price of $5, there will be
A) excess demand. B) excess supply. C) equilibrium. D) zero demand.