Which of the Following Is Not One of the Major

question 20

Multiple Choice

Which of the following is not one of the major accounts in the BOP accounting system?

• A) capital account
• B) debt account
• C) official reserves account
• D) errors and omissions

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Definitions:

Tax Cuts

Reductions in the amount of taxes that individuals or corporations are required to pay.

Keynesian Approach

An economic theory stating that government intervention through fiscal and monetary policy is necessary to manage economic fluctuations.

President Reagan

Ronald Reagan, the 40th President of the United States, served from 1981 to 1989, known for his conservative policies and the economic doctrine referred to as "Reaganomics."

Classical Economists

A group of 18th- and 19th-century economists who believed in the theory that markets operate best without government interference, focusing on the importance of free markets for economic development.