Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will be the domestic quantity supplied?

The international investment position of the United States is negative. This means that

A) the U.S. current account balance is positive. B) foreigners own more U.S. assets than domestic residents own foreign assets. C) foreigners own fewer U.S. assets than domestic residents own foreign assets. D) the U.S. current account balance is negative.

Lump-sum taxes are equitable but not efficient

a. True b. False Indicate whether the statement is true or false