Refer to the given data. The United States' balance of capital and financial account is a:
The following table contains hypothetical data for the 2012 U.S. balance of payments. Answer the question on the basis of this information. All figures are in billions of dollars.
A. surplus of $5.
B. deficit of $10.
C. surplus of $25.
D. deficit of $5.
C. surplus of $25.
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Economic freedom requires
A) that there are no regulations and restrictions set on businesses and households by the government. B) the rule of law and the ability to enforce the laws. C) strong labor unions. D) freedom to bribe government officials. E) that the government be a democracy.
When a new good is introduced, consumers have more variety from which to choose, and this in turn increases the cost of maintaining the same level of economic well-being
a. True b. False Indicate whether the statement is true or false
Which of the following is not a characteristic of a corporation?
a. Corporations are organized as a separate legal taxable entity.
b. Ownership is divided into shares of stock.
c. Corporations experience an ease in obtaining large amounts of resources by issuing stock.
d. A corporation can elect to be taxed as a partnership.
European Union subsidizes its farmers. How do these subsidies make it difficult for farmers in developing economies to compete in the world farm market?
A. The subsidies shift the supply of EU farm goods to the right, lowering world prices of farm goods and the price developing country farmers can receive for their produce. B. The subsidies function as a tariff, causing imports from developing countries to become artificially expensive, thus denying European consumers the benefits of cheap imported food C. The subsidies set a price ceiling for EU farm goods, keeping prices below the market equilibrium, and lowering the price developing country farmers can receive for their produce. D. The subsidies create ethical problems for Europeans who want to buy farm products from developing countries since the subsidies are raising the price of developing country produce.