Is it correct to say that if the total balance of payments does not equal zero, then the reserves account will automatically adjust to ensure it equals zero

Why do we observe the Leontief paradox?

What will be an ideal response?

In the process described as Schumpeterian economic growth (involving Schumpeter's ideas about growth),

(a) recessions are the object of countercyclical policy designed to minimize the waste of unemployed labor and other resources. (b) expansions are considered wasteful because of the tendency for inflation to be generated near the cyclical peaks. (c) recessions are considered to be useful cleansing devices for abandoning inefficient uses of economic resources. (d) depressions are considered to be necessary to maintain greater equality of wealth and income over time.