The official settlements account is the record of
A) payments for imports, receipts for exports, net interest, and net transfers.
B) changes in the government's holdings for foreign currency.
C) exports of capital goods minus imports of capital goods.
D) foreign investment in the nation minus the nation's investment abroad.
E) a nation's international trading, borrowing and lending.
B
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Many wines are priced high in order to
a. Indicate low quality b. Indicate high quality c. Indicate a bargain brand d. None of the above
If the U.S. dollar appreciates relative to the British pound, then we pay fewer dollars for a pound
a. True b. False Indicate whether the statement is true or false
If the Fed reduces the required reserve ratio, how will this affect excess reserves and the money supply?
a. Both will increase. b. Excess reserves increase and the money supply decreases. c. Both will decrease. d. Excess reserves decrease and the money supply increases.
In order to maximize utility, a consumer should allocate money income so that
A. the marginal utility obtained from the last dollar spent on each product is the same. B. the elasticity of demand on all products purchased is the same. C. the total utility derived from each product consumed is the same. D. the marginal utility of the last unit of each product consumed is greater than the total utility of each product consumed.