Which of the following is true of the U.S. balance of payments?
A) It includes as receipts all inflows of funds from foreigners to the United States.
B) It includes as receipts only inflows of funds used to purchase U.S. produced goods and services.
C) It includes as receipts inflows of funds used to purchase U.S. goods or services or to acquire U.S. assets but not funds received as unilateral transfers.
D) It includes as receipts inflows of funds used to purchase U.S. goods or services and funds received as unilateral transfers but not inflows of funds used to acquire U.S. assets.
A
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
In Macroland, currency held by the public is 2,000 econs, bank reserves are 300 econs, and the desired (and current) reserve/deposit ratio is 15 percent. If commercial banks borrow 100 econs in reserves from the Central Bank through discount window lending, then the money supply in Macroland will ________, assuming that the public does not wish to change the amount of currency it holds.
A. increase to 3,133 econs B. increase to 4,100 econs C. decrease to 1,900 econs D. increase to 4,667 econs
Public choice economists contend public bureaucracies are inefficient primarily because:
A. the value of public goods is more easily measured than is the value of private goods. B. of the absence of competitive market pressures. C. public sector workers are more security-conscious than are private sector workers. D. relatively low pay in government attracts workers of lesser quality.
Recall the Application about craft beer and the increase in the price of hops to answer the following question(s).According to the Application, why did the price of hops increase?
What will be an ideal response?