What most accurately describes the U.S. balance of payments?
a. From 1850-1873 the U.S. had an unfavorable balance of payments, but exports exceeded imports from 1873-1919.
b. The U.S. had an unfavorable balance of payments from 1850-1919.
c. Exports exceeded imports from 1850-1919
d. The U.S. had a favorable balance of payments from 1874 until World War I. During the war U.S. imports exceeded imports.
a. From 1850-1873 the US had an unfavorable balance of payments, but exports exceeded imports from 1873-1919.
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Mutual recognition of standards refers to
A) the elimination of tariffs and quotas by trading partners. B) common product safety, environment, labor, and fair competition standards agreed upon by trading partners. C) the acceptance or keeping of a trading partner's standards as valid and sufficient by another trading partner. D) separate standards held by different trading partners which other partners refuse to recognize.
Assume that the central bank sells government securities in the open market. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and net nonreserve-related borrowing/lending in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium
a. The real risk-free interest rate remains the same and net nonreserve-related borrowing/lending balance becomes more positive (or less negative). b. The real risk-free interest rate falls and net nonreserve-related borrowing/lending balance becomes more negative (or less positive). c. The real risk-free interest rate rises and net nonreserve-related borrowing/lending balance becomes more negative (or less positive). d. The real risk-free interest rate and net nonreserve-related borrowing/lending balance remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.