Which of the following is true concerning unilateral transfers in the U.S. balance of payments?
a. Unilateral transfers have been positive since World War II.
b. Unilateral transfers have been negative since World War II.
c. Unilateral transfers have been negative every year since World War II except during the war in Iraq.
d. The United States places tight restrictions on moneys being sent out of the country.
e. Developing countries ordinarily place no restrictions on moneys being sent out of their countries.
C
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Suppose the money supply increases by 10 percent but velocity is not constant. Given this information, it follows that:
A. nominal GDP will increase by 10 percent. B. nominal GDP will increase by more than 10 percent. C. nominal GDP will increase by less than 10 percent. D. the change in nominal GDP cannot be determined.
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if the economy were to open to free trade, it would become:
A. a net-importer. B. an autarky. C. a net-exporter. D. less efficient with less overall market surplus.