The Current Account

question 114

Multiple Choice

The current account

• A) keeps track of all spending flows on imports and exports of goods and services.
• B) keeps track of all spending flows on imports and exports of goods and services and assets.
• C) is an ongoing balance of what is owed a nation by foreigners.
• D) is an ongoing balance of a nation's foreign debts.

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Definitions:

Primacy Effect

The tendency to remember information at the beginning of a list better than the information that follows.

Recency Effect

The tendency to recall the last items in a sequence more readily than those in the middle.

Sensory Decay

The decline in the ability of a sensory system to detect or accurately interpret information over time or due to external factors.

Retrograde Amnesia

A loss of memory for experiences that occurred shortly before a loss of consciousness.