The ________ always equals zero
A) sum of capital and financial account plus official settlements account
B) sum of current account plus capital and financial account
C) sum of current account plus official settlements account
D) sum of current account plus capital and financial account plus official settlements account
E) official settlements account
D
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Consider two banks: Bank A and Bank B. Suppose the value of liabilities of both the banks is equal. However, Bank A is solvent but Bank B is insolvent. This would imply that:
A) the value of Bank B's assets exceeds the value of Bank B's liabilities. B) the value of Bank A's liabilities exceeds the value of Bank A's assets. C) the value of Bank B's assets exceeds the value of Bank A's assets. D) the value of Bank A's assets exceeds the value of Bank B's assets.
While regressive taxes are considered inequitable, cigarette taxation is popular because _____
a. it is a sumptuary tax b. it mainly hurts tobacco farmers in a few Southern states c. in a lifetime sense it is a progressive tax d. people are inconsistent