In the 2007–2009 period, the expenditure level in the United States intersected the 45° line below potential GDP, causing

In 2014, China had accumulated $3.8 trillion worth of reserve assets. These $3.8 trillion entered into China's balance of payments in the:

a. The total amount did not enter into China's balance of payments. Only changes enter the balance of payments. b. Reserve Account. c. Trade balance. d. Balance on goods and services. e. Financial Account.

All else equal, what happens to consumer surplus if the price of a good decreases?

a. Consumer surplus increases. b. Consumer surplus decreases. c. Consumer surplus is unchanged. d. Consumer surplus may increase, decrease, or remain unchanged.