The table above gives some of the balance of payments accounts of the United States in 2019
a. What is the current account balance?
b. What is the capital and financial account balance?
c. What is the official settlements account balance?
d. What is the balance of all account payments?
a. The current account balance is $345 billion.
b. The capital and financial account balance is -$350 billion.
c. The official settlements account balance is $5 billion.
d. The balance of all account payments is zero.
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The figure above shows a labor market. If there is a monopsony in this labor market, the monopsony pays a wage rate
A) greater than the value of marginal product of labor. B) equal to the value of marginal product of labor. C) less than the value of marginal product of labor. D) equal to the average revenue product of labor.
If income is distributed equally, the
A. Gini coefficient is greater than zero. B. Line of equality sags below the Lorenz curve. C. Lorenz curve is a straight line. D. Lorenz curve sags below the line of equality.