Country A-2020 Transactions (billions of dollars)
In the above table, the fact that there is a minus sign before the number for unilateral transfers means that
A. Country A imported more goods than it exported.
B. Country A gave more to foreign residents than foreign residents gave to Country A.
C. Country A received more in foreign aid than it gave in foreign aid.
D. Country A has significant inflation.
Answer: B
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A) 50 percent B) 35 percent C) 25 percent D) 10 percent
If a good has an income elasticity of 1.83, then it:
A. is a normal good, and a necessity. B. is an inferior good, and a necessity. C. probably has a lot of close substitutes available. D. is a luxury.
Which of the following is an example of a financial intermediary?
A. Banks. B. The U.S. Treasury. C. The S&P 500. D. The department of finance.
Which of the following would cause aggregate demand to decrease?
A. Businesses and households believe that the economy is headed for good times, so they begin to feel increased security about their jobs. B. A drop in the foreign exchange value of the dollar C. The Fed increases the amount of money in circulation. D. The government increases taxes on both business and personal income.