Refer to the table below. The balance of trade in goods and services was:
The following table contains hypothetical data for the U.S. balance of payments in a year. Answer the following question on the basis of these data. All figures are in billions of dollars.
U.S. goods exports +$390
U.S. goods imports -498
U.S. service exports +133
U.S. service imports -107
Net investment income +12
Net transfers -22
Capital account -5
Foreign purchases of U.S. assets +156
U.S. purchases of foreign assets -59
A. $107 billion surplus
B. $82 billion deficit
C. $115 billion deficit
D. $55 billion surplus
B. $82 billion deficit
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The marginal product and average product curves
A) never intersect. B) intersect at the maximum point of the marginal product curve. C) intersect at the maximum point of the average product curve. D) do not intersect at any predictable point.
Per capita GDP measures both market and nonmarket production
Indicate whether the statement is true or false