Which of the following is not included in the U.S. balance of payments?
a. Gifts from parents residing in foreign countries and paid to students studying at U.S. colleges and universities.
b. U.S. government military gifts to foreign governments.
c. U.S. aid to Indonesian tsunami victims.
d. U.S. corporate gifts to families in foreign nations who were harmed by hurricanes.
e. All of the above are included in the balance of payments.
.E
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Spontaneous order is an idea of:
a. Keynes b. Schumpeter c. Marx d. Lange e. None of the above
In a recessionary gap, the implications of downward wage inflexibility are that there will be
A) further leftward shifts of AD that worsen unemployment. B) no further leftward shifts of AD, allowing the shifts in SRAS to close the recessionary gap. C) no further leftward shifts of SRAS, allowing the shifts in AD to close the recessionary gap. D) no rightward shifts of SRAS, allowing for the possibility of persistent high unemployment.