Which of the following is correct?
a. Current account surplus + capital account surplus = 1
b. Current account surplus ? capital account surplus = 0
c. Current account surplus + capital account surplus = 0
d. Current account surplus ? capital account surplus = 1
c
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The table above shows sales of the firms in the chocolate industry. The four-firm concentration ratio in the industry is
A) 52 percent. B) 65 percent. C) 72 percent. D) 80 percent.
Ricardo buys cola and popcorn. Cola sells for $0.50 a can and popcorn sells for $1 per bag. He is in consumer equilibrium. The price of a cola jumps to $1 per can. In his new consumer equilibrium, Ricardo's
A) marginal utility of cola will be equal to his marginal utility of popcorn. B) marginal utility per dollar spent will be 2. C) total utility will be higher. D) marginal utility of cola will decrease.