The official reserve transactions balance in the United States balance of payments accounts is
a. reflects the difference between government spending and total taxes.
b. negative if a current account deficit exceeds a capital account surplus.
c. positive if a current account deficit exceeds a capital account surplus.
d. none of the above
C
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Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many clocks will Denmark consume?
A) 270 B) 900 C) 930 D) 1,200
Consider two people, Sandy Roos, who earns $25,000 . and Gary Behrman, who earns $50,000 . If the government has decided to tax everyone's first $25,000 at 20 percent and everyone's second $25,000 at 40 percent, then
a. Gary and Sandy both pay taxes of the same percentage of total income b. Gary and Sandy pay the same amount of taxes c. Gary pays twice the tax amount Sandy pays d. Gary pays three times the tax amount Sandy pays e. Sandy does not pay taxes