The components of the U.S. current account balance are:
a. goods, services, expense receipts and payments, and unilateral transfer.
b. goods, services, income receipts and payments, and unilateral transfer.
c. goods, services, and unilateral transfer.
d. income receipts and payments, and unilateral transfer.
b. goods, services, income receipts and payments, and unilateral transfer.
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The above table presents data from the nation of Pacifica. Aggregate planned expenditure equals $7.5 trillion when real GDP equals
A) $4.0 trillion. B) $8.5 trillion. C) $7.5 trillion. D) $6.0 trillion. E) $8.0 trillion.
Production is productively efficient when
a. the maximum possible output is being produced from a given collection of inputs b. people are working their hardest c. no more capital can be substituted for labor d. technological innovation is no longer desirable e. workers perform their duties at the expected level, even if they are physically capable of doing more
Between 1970 and 2000, the Fed:
A. never published targets or actual amounts for money growth. B. published targets for money growth and rarely hit them. C. published their targets for money growth and often hit these targets. D. published actual money growth but not targets.
The use of government expenditures and taxes to influence the level of economic activity is called fiscal policy.
a. true b. false