In 2008, the current account balance was -$706 billion and the capital and financial account balance was +$711 billion. Therefore, the official settlements account balance was ________ and the balance of all payments accounts summed was ________
A) -$5 billion; zero
B) negative; negative
C) positive; positive
D) +$5 billion; zero
E) not enough information to determine; negative
A
Economics
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Legally established titles to ownership, use, and disposal of factors of production and goods and services, are called ________ rights
A) government B) pollution C) property D) inefficient E) private
Economics
If the best surgeon in town is also the best at cleaning swimming pools, then according to economic reasoning, this person should
A) split his time evenly between being a surgeon and cleaning swimming pools. B) pursue the activity he enjoys more. C) specialize in being a surgeon because its opportunity cost is lower. D) specialize in cleaning swimming pools because it is more labor-intensive.
Economics