All of the following are surplus items on the balance of payments accounts EXCEPT
A) U.S. residents purchases of gold from foreign residents.
B) foreign tourists spending funds in the United States.
C) exports of merchandise.
D) sales of U.S. dollars to foreign residents.
A
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A monetary growth rule means that
A) the Fed will raise interest rates if it thinks the economy is growing faster than potential. B) the money supply should grow at a constant rate. C) the Fed will lower interest rates if it thinks a recession is on the horizon. D) the money supply should grow in response to economic conditions.
The net balance on the balance of payments accounts:
a. always shows a surplus. b. always shows a deficit. c. is always zero. d. is either positive or negative. e. is arrived at without considering omissions and errors in transactions.