The table above gives data for the nation of Syldavia. The official settlements account has a
A) $40 billion surplus.
B) balance of $380 billion.
C) $30 billion deficit.
D) zero balance.
E) $40 billion deficit.
D
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Public goods are basically
A) rival in consumption. B) nonrival in consumption. C) depletable in consumption. D) nondepletable in consumption.
Which of the following purported externalities in fact does not distort the allocation of resources? I. An individual's unwillingness to cut his or her own lawn in an otherwise immaculately kept neighborhood. II. Smoke produced by a new firm in an area which raises the costs of other firms. III. A new firm's bidding up skilled wages in an area, thereby raising costs of other firms. IV. An
individual's unwillingness to obtain job training, thereby lowering the total GNP. Possible choices: a. I, III, and IV. b. III and IV. c. III only. d. IV only.