Current account transactions are records of the income and expenditures from exports and imports, plus international financial investments and borrowing

A person's consumption possibilities is defined by the budget line because

A) it marks the boundary between what is affordable and unaffordable. B) it represents the individual's preference for different combinations of goods. C) it marks the boundary between what can be produced and what is unattainable given the current state of technology and resources. D) all consumers must consume on their budget line.

Which of the following is a factor of production that generally is fixed in the short run?

A) a factory building B) water C) raw materials D) labor