The current account surplus
A) is a decreasing function of disposable income and an increasing function of the real exchange rate.
B) is an increasing function of disposable income and an increasing function of the real exchange rate.
C) is an increasing function of disposable income and a decreasing function of the real exchange rate.
D) is a decreasing function of disposable income and a decreasing function of the real exchange rate.
E) is an increasing function of disposable income and a decreasing function of aggregate demand.
A
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A decline in real GDP for at least two consecutive quarters is referred to as:
a) Inflation. b) A recession. c) Deflation. d) A depression.
When the government pays part of my university education, it is
A. using direct regulation to discourage an external cost. B. subsidizing an external benefit. C. internalizing an external cost. D. using taxes to discourage an external cost.