Over the past two decades the U.S. balance on current accounts has
a. been in deficit
b. generated surpluses
c. been very erratic, swinging from deficits to surpluses to deficits
d. essentially been in balance
e. declined in importance compared to the balance on capital account
A
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Historically, the leading official reserve asset was
A) gold. B) the U.S. dollar. C) the British pound. D) the German mark.
Suppose we know the following about a lawn repair business: wages $15,000, profits $4,000, tax $ 3,000, parts $ 9,000. What is the contribution to GDP of this business using the product approach?
A) $31,000. B) $27,000. C) $26,000. D) $22,000.
Investment is an economic term for the act of increasing the stock of money available for business loans
a. True b. False Indicate whether the statement is true or false
Economic variables whose values are measured in goods are called
a. dichotomous variables. b. nominal variables. c. classical variables. d. real variables.