Which of the following would decrease the current account balance of the United States?
A) a decrease in the amount of money the U.S. government sends in foreign aid to other countries
B) a decrease in imports
C) a decrease in the amount of income U.S. companies pay out to foreigners who own investments in the U.S.
D) a decrease in the balance of trade
D
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In a classical model
A) equilibrium real GDP is demand determined. B) equilibrium real GDP is neither determined by aggregate supply nor by aggregate demand. C) equilibrium real GDP is determined by both aggregate supply and aggregate demand. D) equilibrium real GDP is supply determined.
In the Ricardian model, the marginal product of labor:
a. first rises, then falls, as more labor is employed to produce a good. b. first falls, then rises, as more labor is employed to produce a good. c. continuously falls, as more labor is employed to produce a good. d. does not change, as more labor is employed to produce a good.