If the current account balance has a $70 million deficit and there was no change in official reserves during that year, then we know that
A) net transfers were -$70 million.
B) the capital account balance must have a $70 million deficit.
C) the balance of payments must register a $70 million surplus.
D) the official settlements account balance must have a $70 million surplus.
E) the capital and financial account balance must have a $70 million surplus.
E
Economics
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The fact that any Pareto-efficient equilibrium can be achieved through competition by adjusting endowments is called
A) the Second Welfare Theorem. B) the First Welfare Theorem. C) the Third Welfare Theorem. D) That is not possible.
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The delay between when a problem is recognized and when policy action is taken is referred to as the
A) recognition lag. B) action lag. C) effectiveness lag. D) policy lag.
Economics