In the balance of payments accounts, a net importer of capital is a nation that
a. sells more goods in foreign countries than it imports
b. buys more goods from foreign countries than it exports
c. sells more assets to individuals in other countries than the assets it buys from them
d. buys more assets from individuals in other countries than the assets it sells to them
e. imports less machinery than it exports
C
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If a monopsony must negotiate with a union, then the wage will probably be
A) more than the value of marginal product. B) more than the marginal cost of labor. C) the same as if there had been no union. D) more than what it would have been without a union but not more than the value of marginal product.
In the figure above, the marginal rate of substitution (MRS) at point A is
A) greater than the MRS at any other point on the indifference curve. B) equals the MRS at all other points on the indifference curve. C) less than the MRS at any other point on the indifference curve. D) equal to the slope of the budget line.