Which of the following statements is TRUE about the role of gifts given to U.S. citizens from foreign residents?
A) Gifts are not included in the balance of payments because of the nature of the gift.
B) Gifts are only included in the balance of payments if the gift is given to a government official.
C) Gifts are included in the balance of payments.
D) Gifts given to U.S. citizens are not included in the balance of payments but gifts given to foreigners are included.
Answer: C
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a. provide the same marginal utility per dollar. b. be consumed in equal quantities. c. have identical marginal utilities. d. give the consumer matching amounts of total utility.
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