Use the following table to answer the next question. GDP figures are in billions of dollars. YearNominal GDPReal GDPPrice Index15,2004,800--25,500--11235,7505,000--What was real GDP in year 2?

Criteria for an optimum currency area include all the following except

A) fiscal transfers. B) similar business cycle patterns. C) extensive trade with each other. D) a common language.

Last month a country sold more goods and services to residents of foreign countries than it purchased from them. What does this imply about this country's trade balance?