In part, a country's current account measures
A) its current debt as opposed to its long-term debt.
B) borrowing and lending activity between the country's residents and foreigners.
C) net increases and decreases in a country's holdings of foreign currency.
D) receipts from the sale of goods and services to foreigners and payments for goods and services bought from foreigners.
D
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The current account records foreign investment in the United States minus U.S. investment abroad
Indicate whether the statement is true or false
With a temporary income tax surcharge, according to the ________, household consumption should ________
A) PIH; fall as disposable income falls B) PIH; rise since the decrease is disposable income is temporary C) LCH; fall since disposable income over the lifecycle falls D) None of the above is correct since a temporary change affects neither permanent income or relative lifecycle earnings.