Remittances to foreign countries from legal and illegal residents of the U.S. are examples of ________
A) factor payments B) exports C) imports D) transfer payments
There are two countries - Earthland and Plutoland - who trade only with each other. Residents in Earthland purchased buildings worth $10 billion in Plutoland during a certain year. None of the other transactions between the two countries during that year involved purchase or sale of assets.
D
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Economics, according to its definition, studies how people:
a. earn and spend money. b. invest in the stock and bond markets. c. make choices in the face of scarcity. d. supply goods in response to demand.
If total spending is less than total output, then price levels will
a. rise and output will increase. b. rise and output will decrease. c. fall and output will increase. d. fall and output will decrease.