The balance of payments has become a central issue for the United States because
A) when the balance of payments is not balanced, society is unbalanced.
B) the U.S. economy cannot grow when the balance of payments is in deficit.
C) the U.S. has run huge trade deficits in every year since 1982.
D) the U.S. never experienced a surplus in its balance of payments.
E) the U.S. once ran a large trade surplus of about $40 billion.
C
Economics
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The price elastic portion of the linear demand curve lies:
a. b and c. b. above the point of unit elasticity. c. anywhere to the left of current market prices. d. below the point where total revenue is maximized. e. at the intersection with the supply curve.
Economics
Which of the following is a major macroeconomic goal?
a. Low prices b. Declining prices c. Pure competition d. Stable prices e. High prices
Economics