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
Refer to the table above. The data indicate that Americans:
A. Bought foreign assets abroad more than foreigners bought assets in the U.S.
B. Invested abroad more than foreigners invested in America
C. Earned more from their investments abroad than foreigners earned from their investments in America
D. Sold more products to buyers abroad than what foreign producers sold to buyers in America
C. Earned more from their investments abroad than foreigners earned from their investments in America
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Monetary policy refers to:
A. policy directed toward increasing exports and reducing imports. B. government policies aimed at changing the underlying structure or institutions of the economy. C. the determination of the nation's money supply. D. decisions to determine the government's budget.
If the percentage change in price is 5%, and the percentage change in quantity supplied is 10%, then the supply for the good is
A. inelastic. B. unit elastic. C. perfectly inelastic. D. elastic.