The Table Contains Hypothetical Data for the U

question 263

Multiple Choice

$$\begin{array} { | l | c | } \hline \text { (1) US Goods Exports } & + \$ 100 \\\hline \text { (2) US Goods Imports } & - 80 \\\hline \text { (3) US Service Exports } & + 40 \\\hline \text { (4) US Service Imports } & - 90 \\\hline \text { (5) Net Investment Income } & + 20 \\\hline \text { (6) Net Transfers } & - 15 \\\hline \text { (7) Foreign Purchases of Assets in the United States } & + 30 \\\hline \text { (8) US Purchases of Foreign Assets Abroad } & - 10 \\\hline \text { (9) Balance on Capital Account } & + 5 \\\hline\end{array}$$ The table contains hypothetical data for the U.S. balance of payments. All ?gures are in billions of dollars. The United States has a balance of goods

• A) de?cit of $10 billion.
• B) surplus of $30 billion.
• C) de?cit of $30 billion.
• D) surplus of $20 billion.

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Definitions:

Budget Surplus

A situation where income or revenues exceed expenditures over a specified period of time.

Aggregate Demand

Aggregate demand represents the total demand for goods and services within an economy at a given overall price level and time period.

John Maynard Keynes

A British scholar in economics whose contributions had a profound impact on how macroeconomics is understood and applied by governments.

Unemployment Rate

A measure indicating the proportion of the workforce that is not employed but is actively seeking work and willing to work.