Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many hats will Denmark consume?

The United States issues a $10,000 debt forgiveness to Argentina. How is this accounted for in the balance of payments?

A) financial account, U.S. asset import B) current account, Argentina transfer payment C) current account, U.S. service export D) financial account, U.S. asset export E) current account, Argentina good import

An increase in a family's income will cause its budget line to

a. become steeper. b. become flatter (less steep). c. move closer to the origin. d. move away from the origin. e. become more convex toward the origin.