An example of a unilateral transfer is
A) a gift to a relative who lives abroad.
B) a check received in payment for an import.
C) gold payments to foreign companies.
D) SDR payments to world creditors.
A
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The race-to-the-bottom concept described in the text refers to
A) the situation in which countries with high standards are forced to lower their standards or face the loss of jobs and industry. B) the situation in which human rights are not respected by trading countries. C) adopting the standards of a few selected middle-income and high-income countries. D) the use of low per-capita income as a means of comparing the well-being of individuals.
If the government passes a law requiring buyers of college textbooks to send $5 to the government for every textbook they buy, then
a. the demand curve for textbooks shifts downward by $5. b. buyers of textbooks pay $5 more per textbook than they were paying before the tax. c. sellers of textbooks are unaffected by the tax. d. All of the above are correct.