In 2009, Germany's capital account was -$135 million. This implies that
A) Germany invested more in other countries than those countries invested in Germany.
B) Germany's currency must have appreciated during 2009.
C) Germany imported more goods from its trading partners than it exported.
D) Germany's official settlements account in 2009 must have been positive.
A
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The figure above shows the costs for a grower in the perfectly competitive turnip industry. If the price is $1,400 for a ton of turnips, the firm is
A) making an economic profit. B) making zero economic profit. C) incurring an economic loss. D) More information is needed to determine if the firm is making a positive economic profit, zero economic profit, or incurring an economic loss.
What is protection as it refers to international trade?
What will be an ideal response?