Which of the following would cause a debit entry in the U.S. balance of payments?
a. Canadian citizens increase their shopping trips to the United States
b. more U.S. citizens vacation in Austria
c. Italian citizens stop vacationing in Monte Carlo and go to Miami instead
d. the United States sells oil-drilling equipment to Kuwait
b. more U.S. citizens vacation in Austria
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When paper currency is decreed by governments as legal tender, legally it must be
A) paper currency backed by gold. B) a precious metal such as gold or silver. C) accepted as payment for debts. D) convertible into an electronic payment.
From 1900 to 2013 real GDP per person in the U.S. has ________
A) doubled B) grown by a factor of four C) grown by a factor of nine D) grown by a factor of twenty E) declined
In the long run, an increase in aggregate demand causes the price level to _______ and the long-run aggregate supply curve to _____________
a. decrease; decrease b. increase; increase c. decrease; remain unchanged d. increase; remain unchanged
When a decision is made based on a simple majority vote it is possible for the total benefits to the community of this decision to be less than the total costs to the community of this decision
Indicate whether the statement is true or false