The trade balance includes:
a. Imports and exports of only goods.
b. Imports and exports of goods and services.
c. Net exports of goods and services plus transfers.
d. Net exports of goods and services plus net investment income plus transfers.
e. Changes in a nation's reserve assets.
.A
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In the above figure, the Lorenz curve for income is shown. If the data used are from the United States, and the U.S. Lorenz curve for wealth was added to the diagram, it would be
A) further from the line of equality than the Lorenz curve for income. B) closer to the line of equality than the Lorenz curve for income. C) above the line of equality. D) the same as the Lorenz curve for income.
An increase in the marginal propensity to import will
A) raise imports and raise equilibrium income. B) lower imports and raise equilibrium income. C) lower the multiplier and reduce equilibrium income. D) raise the multiplier and reduce equilibrium income.