A nation's capital and financial account:
A. contains inpayment items but not outpayment items.
B. includes service exports and service imports.
C. includes both inpayments and outpayments.
D. includes net investment income and net transfers.
C. includes both inpayments and outpayments.
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In the specificfactors model, suppose that a country has a comparative advantage in manufacturing output. Will landowners be better or worse off following the opening of trade with other countries?
a. They will be better off. b. They will be worse off. c. They may be better off or worse off because the real rental on capital in terms of the agricultural good rises and the real rental in terms of the manufactured good falls. d. They may be better off or worse off because the real rental on capital in terms of the manufactured good rises and the real rental in terms of the agricultural good falls.
At the equilibrium level of real GDP, total production equals total:
a. saving. b. investment. c. net exports. d. spending.