The main reason for our balance of payments deficits has been
A. military spending abroad.
B. spending by U.S. tourists abroad.
C. our negative balance of trade.
D. None of these choices are correct.
C. our negative balance of trade.
Economics
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According to the textbook, for most goods and services-foods, beverages, entertainment, etc.-the income elasticity of demand is:
A. larger in the short run than in the long run. B. larger in the long run than in the short run. C. about the same in the short run and in the long run. D. is difficult to differentiate from the short run to the long run.
Economics
The Federal Reserve System is run by the President of the United States
a. True b. False Indicate whether the statement is true or false
Economics