The United States is currently a net debtor nation. This means that
A) U.S. consumers have a great variety of foreign goods available to them.
B) the U.S. economy is in serious trouble if government policies don't change quickly.
C) capital outflows from the U.S. are greater than inflows.
D) the U.S. is seen as a poor investment by foreign citizens and firms.
A
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If the price of inputs rises and foreign income rises:
a. Aggregate demand and aggregate supply rise. b. Aggregate demand and aggregate supply fall. c. Neither aggregate demand nor aggregate supply change. d. Aggregate demand rises, and aggregate supply falls. e. None of the above.
Starting at full employment, a business cycle can be described by the following sequence: ________ equilibrium, ________ equilibrium, ________ equilibrium.
What will be an ideal response?
Which of the following is NOT a voluntary exchange?
A) Jose loses his smartphone on the way home. B) Marie buys groceries. C) Jason pays $20,000 for tuition and fees this semester. D) Emily buys a $500 plane ticket to fly from Miami to Dallas on short notice.
Economic profits are found by total revenues minus
A) explicit costs. B) explicit and implicit costs. C) implicit costs. D) all opportunity costs.