If a nation's exports are $55 billion, while its imports are $50 billion, we can conclude with certainty that this nation is experiencing a
A. balance of trade surplus.
B. balance of payments surplus.
C. positive balance on current account.
D. positive balance on capital account.
A. balance of trade surplus.
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Of the following endeavors of Happy Home Insurance Company of California, which involves the most nondiversifiable risk?
A) Fire insurance B) Home burglary insurance C) Earthquake insurance D) Personal accident insurance E) Home office insurance
The discount rate is the interest rate charged by:
a. major banks to their best customers. b. banks for overnight loans to other banks. c. the Fed on loans of reserves to banks. d. banks for loans of less than 24 hours.
Which of the following is part of the economic way of thinking?
a. Opportunity costs will always be incurred when scarce resources are used to produce a good. b. When the cost of an option increases, individuals will be less likely to choose it. c. In addition to their immediate direct effects, economic actions often generate secondary effects that are observable only after the passage of time. d. All of the above are part of the economic way of thinking.
During the Great Depression of the 1930s, how much did output fall between 1929 and 1933?
a. 5 percent b. 10 percent c. 20 percent d. 30 percent e. 50 percent