Since 1999, the capital account has recorded
A) relatively minor transactions, such as migrants' transfers, and sales and purchases of nonproduced, nonfinancial assets.
B) transactions that affect the balance of trade or the balance of services.
C) statistical discrepancy between the current account and the financial account.
D) transactions that affect net capital flows in the economy.
A
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Suppose the federal budget surplus for the year was $350 billion and the economy was in an economic expansion
If the economy had been at potential GDP, it is estimated that tax revenue would have been $140 billion lower and government spending on transfer payments would have been $50 billion higher. Using these estimates, the cyclically adjusted budget A) deficit was $440 billion. B) deficit was $260 billion. C) surplus was $160 billion. D) surplus was $540 billion.
A firm sells 100 . units per week. It charges $15 per unit, the average variable costs are $10, and the average costs are $25 . The firm should
a. Shut-down as the firm is making a loss of $10,00 . per week b. Shut-down as the firm cannot cover the fixed costs c. Continue operating as the firm is covering all the variable costs and some of the fixed costs d. Shut-down because it is cost effective to pay off the remaining fixed costs