In a nation's balance of payments, the current account includes
A. the purchases of foreign assets.
B. the changes in the official reserve transaction account.
C. the balance of the trade account, the balance of the services account, and net unilateral transfers.
D. all of these.
Answer: C
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From 1970 to 2006, average real income for the top 5% of U.S. households
A) decreased by more than 10%. B) remained virtually unchanged. C) increased by about 5%. D) almost doubled.
Which of the following asset would be considered money?
A. An asset that has value and could at some time be accessed in order to make transactions. B. An asset that can be bought or sold using a widely-used means of payment. C. An asset that can be easily converted into a widely-used means of payment with little loss in value. D. An asset that is infrequently used as a means of payment. Correct. For this reason, savings accounts and money market mutual funds are usually counted as money.