In the United States during the 1960s, government spending dramatically increased to fight the Vietnam War, which resulted in:

Which of the following statements is NOT true about the price system?

A) The price system allows resources to flow from low-valued uses to high-valued uses. B) Firms have total control over what consumers can buy. C) Individuals have freedom to purchase what they want. D) The price system allows for economic efficiency.

The following table contains data for the U.S. balance of payments in a prior year. Answer the question on the basis of this information. All figures are in billions of dollars.

U.S. goods exports +$793 U.S. goods imports -1573 U.S. exports of service +280 U.S. imports of services -222 Net investment income +5 Net transfers -81 Capital account -5 Foreign purchases of assets in the U.S. +1198 U.S. purchases of foreign assets -395 By how much did Americans forgive debt owed to them by foreigners than foreigners forgave debt owed to them by Americans? A. +$5 billion B. -$5 billion C. +$72 billion D. -$72 billion