All of the following are deficit items in the balance of payments accounts EXCEPT
A. U.S. residents purchases of gold from foreign residents.
B. exports of merchandise.
C. U.S. tourists spending funds in Europe.
D. U.S. purchases of foreign companies' stocks and bonds.
Answer: B
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
The S-curve is used to illustrate
a. the typical path taken by the current account over time. b. economic fluctuations in the economy. c. the typical growth path of a developing economy. d. the existence of multiple equilibria.
A U.S. family flies from Boston to Shanghai on a China Airlines plane. This transaction is
A) considered an export of service in the U.S balance of payment accounts. B) a deficit item in the balance of payment accounts of China. C) Both of the above are correct. D) none of the above.
Pain, suffering and disfigurement are forms of
a. compensatory damages b. punitive damages c. economic damages d. all of the above.