GNP equals GDP
A.minus net receipts of factor income from the rest of the worldB.plus receipts of factor income from the rest of the worldC.minus receipts of factor income from the rest of the wo...
GDP is supposed to measure
A.the volume of production within a country’s bordersB.the volume of services generated within a country’s bordersC.the volume of production of a country’s output.D.GNP plus dep...
A country’s gross national product (GNP) is
A.the value of all final goods and services produced by its factors of production and sold on the market in a given timeB.the value of all intermediate goods and services produced ...
Japan’s external surplus,
Japan's external surplus, represented in the equation X-M=S-I, shows that their amount of export beyond imports of goods and services is the same as the amount of:A.domestic saving...
The current account is equal to
The current account is equal toA.S(p)-I + T-G B.C+I+G+X C.I+X D.T-GAnswer: A
A current account surplus implies that
A.The country is a net lender to the rest of the worldB.The country is running a net financial account surplusC.Foreign investment in domestic securities is at very low levelsD.All...
A debit entry in the balance of payments accounts represents
A debit entry in the balance of payments accounts representsA.a transaction that includes a payment from abroad to a domestic resident.B.a transaction that includes a payment abr...
The balance of payments system
The balance of payments systemA.is another method for calculating GDP.B.insures that the net exports are always equal to zero.C.measures the total value of a domestic economy's t...
Under the gold standard,
A.a shortage of currency leads to low domestic prices and a foreign payments surplus.B.a shortage of currency leads to high domestic prices and a foreign payments surplus.C.a short...
Under the gold standard,
A.a perpetual surplus isB.a perpetual deficit isC.a perpetual surplus is impossible, but a perpetual deficit isD.a perpetual deficit is impossible, but a perpetual surplus isE.a pe...
Under the gold standard era of 1870 – 1914,
A.central banks tried to have sharp fluctuations in the balance ofB.central banks tried to avoid sharp fluctuations in the current account of the balance ofC.central banks tried to...
A country is said to be in balance of payments
A country is said to be in balance of payments equilibrium when the sum of its current and itsA.non-reserved financial accounts equalsB.reserved financial accounts equalsC.non-rese...
