The velocity of money is the total number of times per year that a dollar is used to purchase final goods and services

Globalization refers to a process involving many complex elements, one of which is that

a. the time it takes for goods, people, information, and money to flow across borders is expanding. b. lower transportation costs mean cheap labor in distant places can be exploited. c. the world is increasingly defined by separate markets rather than one dominant market. d. international trade decreases relative to domestic trade.

A current account deficit can occur if ________, all else equal

A) net national savings equals zero B) net factor income from abroad equals zero C) net exports are negative D) net investment income is negative