If net foreign investment is positive, which of the following must be true? (Assume that the capital account is zero and net transfers are zero.)
A) Net exports are negative.
B) Capital outflows are less than capital inflows.
C) Domestic investment must be less than national saving.
D) None of the above are true when net foreign investment is positive.
C
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Refer to the diagram above, which represents a country's supply and demand for an internationally traded good. If PW is the world price, and a foreign country engages in dumping by selling at P2, total domestic consumption will ________ to ________
A) increase; Q2 B) decrease; zero C) increase; Q5 D) increase; Q3
In order to reduce labor supply, a union must be able to
a. do all of the following b. force all employers in the industry to hire only union members c. set wages d. agree to wage concessions e. increase union membership
Suppose Cassie's Candles is a profit-maximizing competitive firm. Cassie sells hand-made candles for $10 each. She will pay an hourly wage of $20 so long as the marginal productivity of a worker equals or exceeds two candles per hour
a. True b. False Indicate whether the statement is true or false
Which of the following is not a central focus of the "economic perspective"?
A. Marginal analysis B. Scarcity and choice C. The scientific method D. Purposeful behavior