Whenever income is less than expenditure for a period of time, a nation will experience:
A) a deficit in its current account
B) A surplus in its current account
C) A fall in GDP
D) None of the above
Ans: A) a deficit in its current account
Economics
You might also like to view...
The more that Clayton earns, the higher is his average tax rate. Clayton faces a ________ income tax
A) regressive B) proportional C) progressive D) flat-rate
Economics
An increase in unemployment will cause this year's production possibilities curve to shift inward toward the origin
Indicate whether the statement is true or false
Economics