A country's balance of payments records
A. the prices that a country pays for its imports and the prices that the country receives for its imports.
B. the value of a country's holdings of foreign assets, minus the value of foreign holdings of the country's assets.
C. capital gains and losses on a country's international assets.
D. the flows of value between that country's residents and residents of the rest of the world during a period of time.
Answer: D
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In the long-run ISLM model and with everything else held constant, the long-run effect of an expansionary fiscal policy is to ________ real output and ________ the interest rate
A) increase; increase B) not change; not change C) increase; not change D) not change; increase
What can be said about the demand and supply of natural resources?
a. The quantity demanded of a natural resource will generally be less responsive to a change in price in the long run than in the short run. b. The supply of a natural resource will generally be more responsive to a price change in the long run than in the short run. c. The supply of a natural resource is fixed by nature; it cannot be responsive to a price change in the long run. d. None of the above is correct.