The Current Account on a Nation's Balance of Payments Statement

question 190

Multiple Choice

The current account on a nation's balance of payments statement includes all of the following except

• A) the nation's goods exports.
• B) the nation's goods imports.
• C) net investment income.
• D) net purchases of assets abroad.

Understand the extent of Americans' interaction with mass media annually.

Identify and comprehend the functions of mass media according to functionalists.

Recognize the role of mass media in entertainment and socialization.

Understand how mass media can serve as agents of social control and reinforce societal norms.

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Definitions:

Consumer Surplus

The variance between the total price consumers are inclined and financially capable of paying for a good or service and the amount they actually dispense.

Marginal Utility

The extra utility or satisfaction derived from using or consuming one additional unit of a good or service beyond what was previously consumed.

Total Utility

The total satisfaction received from consuming a particular amount of goods or services.

Marginal Utility

The additional satisfaction or benefit a consumer derives from consuming one more unit of a good or service.