The change in U.S. official reserves is equal to
A) borrowing from abroad plus the current account deficit.
B) the current account balance plus the capital and financial account balance.
C) the current account balance minus the capital and financial account balance.
D) foreign investment in the United States minus U.S. investment abroad.
B
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Household spending on education is counted in which component or subcomponent of GDP?
a. consumption of durable goods b. consumption of nondurable goods c. consumption of services d. investment
If B represents resource markets and C represents households, then the flow from B to C is _____
a. revenue. b. expenditures. c. labor, capital, and natural resources. d. income. e. wages, interest, rent, and profit. check image at top
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.
Suppose in 2018, you purchase a house built in 2003. Which of the following would be included in the gross domestic product for 2018?
A) the value of the house in 2018 B) the value of the house in 2003 C) the value of the house in 2018 minus depreciation D) the value of the services of the real estate agent