Refer to the above figure. The figure represents the saving function for the consumer. Point A represents
A) the point at which saving equals zero. B) a situation in which saving is positive.
C) a situation in which saving is negative. D) the amount of autonomous consumption.
C
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Which of the following statements is true?
A. Current account balance = -(capital account balance). B. A country's balance on current account equals its balance on capital account. C. If the market for a nation's currency is in equilibrium, a capital account surplus necessarily means a current account surplus. D. Capital accounts and current accounts balances are determined by governments.
The sale of
A) a used textbook does enter GNP. B) a used textbook does not enter GNP, but the sale of a used house does. C) both a used textbook and a used house do not enter GNP. D) a used house does not enter GNP, but the sale of a used book does. E) the GNP does not include sale of used items priced below $1000.