Refer to Table 29-1. Use the information in the table to prepare a balance of payments account and find the value of the statistical discrepancy. Assume that the balance on the capital account is zero
What will be an ideal response?
CURRENT ACCOUNT
Exports of goods $925
Imports of goods -1,211
Balance of trade -286
Exports of services 623
Imports of services -456
Balance of services 167
Income received on investments 502
Income payments on investments -444
Net income on investments 58
Net transfers -77
Balance on current account -138
FINANCIAL ACCOUNT
Increase in foreign holdings of assets in the United States
2,560
Increase in U.S. holdings of assets in foreign countries
-2,478
Balance on financial account 82
BALANCE ON CAPITAL ACCOUNT 0
Statistical discrepancy 56
Balance of payments 0
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Does a 21 year old who inherited millions of dollars' worth of corporate stock and who never works supply anyone with productive services?
A) No, by definition. B) Only if her wealth is invested in capital equipment that adds to economic growth. C) Only if others are willing to pay to watch her enjoy life. D) Yes, if she supplies the services of the resources she owns.
Over the range of output for which the average product of labor curve is negatively sloped, the average variable cost curve is positively sloped
Indicate whether the statement is true or false
The full-employment level of output is called:
A) aggregate demand. B) aggregate supply. C) potential output. D) none of the above.
A permanent negative supply shock leads to ________ output ________
A) higher; in both the short and long runs B) higher; in the short run but not in the long run C) lower; in both the short and long runs D) lower; in the short run but not in the long run