An official settlements account balance of -$5,000 means
A) official reserves of foreign currency increased by $5,000.
B) official reserves of foreign currency decreased by $5,000.
C) the country is exporting more than it is importing.
D) the country is importing more than it is exporting.
A
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Suppose a country has government expenditures of $3,500, taxes of $2,200, consumption of $9,000, exports of $2,500, imports of $2,700, transfer payments of $750, capital depreciation of $800, and investment of $3,000 . GDP equals
a. $24,450. b. $11,550. c. $15,300. d. $20,700.
Suppose you have three choices—go to a movie, read a book, or sleep. You choose to go to a movie. The opportunity cost of the movie is
A) the value of the book not read. B) the value of sleeping which you enjoy the least. C) the value of the concert that you didn't attend. D) the value of the activity that you would have selected if you hadn't gone to the movie.