A country has a current account deficit of -$100 billion. This implies that ________
A) payments to foreigners exceed payments received from foreigners
B) its exports exceed its imports by $100 billion
C) net factor payments from abroad is positive
D) net transfers from abroad is positive
A
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The impetus to form an administrative body in Europe after World War II to distribute Marshall Plan aid and coordinate trade and other common issues resulted in three organizations:
A) the WTO, the GATT, and the IMF. B) the European Payments Union, the UN, and the early roots of the European Union. C) the European Payments Union, the European Coal and Steel Community, and Euratom. D) the Eastern bloc, the Warsaw Pact, and NATO.
The economy moves up a stationary aggregate demand curve when the Fed:
A. decreases real interest rates in response to inflation, but does not change its target inflation rate or the Fed's policy reaction function. B. increases its target inflation rate, reflected by a downward shift in the Fed's policy reaction function. C. decreases its target inflation rate, reflected by an upward shift in the Fed's policy reaction function. D. increases real interest rates in response to inflation, but does not change its target inflation rate or the Fed's policy reaction function.