The balance of trade is defined as
A) the difference between the value of goods and services exported and the value of goods and services imported.
B) the difference between the value of goods exported and the value of goods imported.
C) the difference between the value of services exported and the value of services imported.
D) none of the above.
Answer: B
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If inflation is both high and volatile:
A. nominal interest rates will also be high and volatile since real interest rates are stable. B. lenders may be unwilling to lend out of fear of unexpected increases in inflation. C. real interest rates will also be high and volatile since nominal interest rates are stable. D. borrowers may be unwilling to borrow out of fear of unexpected increases in inflation.
The demand deposit multiplier is the number by which we must multiply the
a. injection of reserves to get the total change in demand deposits b. total amount of demand deposits to get the total change in the money supply c. level of required reserves to get the total change in the money supply d. total amount of currency in circulation to find total demand deposits e. change in demand deposits to find the total change in the money supply