The overall U.S. balance of payments
a. shows a deficit
b. shows a surplus
c. is the merchandise trade balance
d. equals exports minus imports
e. shows how deficits in one account are exactly offset by surpluses in other accounts
E
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Public investment expenditure for highways, schools, and national defense is included in which component of GDP?
A) consumption B) gross private investment C) government purchases D) public investment
An outward shift of a nation's production possibilities curve:
A. ensures the nation of an increase in real GDP per capita. B. ensures the nation of an increase in real GDP, but not of real GDP per capita. C. ensures a nation neither of an increase in real GDP nor of an increase in real GDP per capita. D. ensures a nation of an increase in both real GDP and real GDP per capita.