Refer to the table below. The data indicate that there was a trade:
The following table contains hypothetical data for the U.S. balance of payments in a year. Answer the following question on the basis of these data. All figures are in billions of dollars.
U.S. goods exports +$390
U.S. goods imports -498
U.S. service exports +133
U.S. service imports -107
Net investment income +12
Net transfers -22
Capital account -5
Foreign purchases of U.S. assets +156
U.S. purchases of foreign assets -59
A. Deficit in goods and also a trade deficit in services
B. Surplus in goods and also a trade surplus in services
C. Deficit in goods and a trade surplus in services
D. Surplus in goods and a trade deficit in services
C. Deficit in goods and a trade surplus in services
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Unemployment insurance is:
A. offered by companies as a way to affect the level of frictional unemployment. B. offered by the government as a way to affect the level of seasonal unemployment. C. money that is paid by the government to people who are unemployed. D. All of these are true.
A cost curve drawn with years on the horizontal axis and costs per unit on the vertical axis would be a(n)
a. analytical cost curve. b. long-run cost curve. c. historical cost curve. d. theoretical cost curve.
The greater the elasticity of demand, the smaller the deadweight loss of a tax
a. True b. False Indicate whether the statement is true or false
If the nominal interest rate is 5 percent and the real interest rate is 7 percent, then the inflation rate is
a. -2 percent. b. 0.4 percent. c. 2 percent. d. 12 percent.