In 2011, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. Armenia's real GDP per person in 2012 was

Which of the following is true?

A) Local governments cannot collect taxes in the U.S. B) Only state governments can collect taxes in the U.S. C) Only the federal government can collect taxes in the U.S. D) The central as well as the local governments collect taxes in the U.S.

If foreign holdings of U.S. dollars increase, holding all else constant,

A) the balance on the U.S. current account will increase. B) the balance on the U.S. capital account will increase. C) the U.S. balance of trade will increase. D) the balance on the U.S. financial account will increase.