The Table Contains Balance of Payments Data for the Hypothetical

question 34

Multiple Choice

$$\begin{array} { | l | c | } \hline \text { (1) Goods exports } & + \$ 220 \\\hline \text { (2) Goods imports } & - 328 \\\hline \text { (3) Exports of services } & + 54 \\\hline \text { (4) Imports of services } & - 55 \\\hline \text { (5) Net investment income } & + 18 \\\hline \text { (6) Net transfers } & - 11 \\\hline \text { (7) Capital account } & - 1 \\\hline \text { (8) Foreign purchases of Econland assets } & + 124 \\\hline \text { (9) Econland purchases of foreign assets } & - 21 \\\hline\end{array}$$ The table contains balance of payments data for the hypothetical nation of Econland. All ?gures are in billions of dollars. Econland's balance on the current account shows a

• A) de?cit of $91 billion.
• B) de?cit of $102 billion.
• C) de?cit of $109 billion.
• D) surplus of $109 billion.

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Definitions:

Individualist

A person who prioritizes independence and self-reliance, often valuing personal goals and self-expression over collective goals.

Collectivist Groups

Societies or groups that prioritize the needs and goals of the group over the individual, emphasizing interdependence, cooperation, and communal values.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or social pressures.

Groupthink

A psychological phenomenon wherein the desire for harmony within a decision-making group leads to irrational or dysfunctional decision-making outcomes.