The US Experienced Large Current Account Deficits in the 1980s and and Much

question 35

Multiple Choice

The U.S. experienced large current account deficits in the 1980s and much larger deficits more recently (since the mid-1990s) . These deficits indicate that the U.S. did not

• A) consume more than it produced.
• B) sell financial assets.
• C) borrow large amounts of money from foreign residents.
• D) run a surplus in the financial account.
• E) None of these - the U.S. did all of these.

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Definitions:

Competition

A situation in which individuals or groups strive against one another to achieve a goal that cannot be shared.

Pleasure

A feeling of happiness, enjoyment, or satisfaction derived from an experience.

Self-determination Theory

A theory of motivation that posits people are most satisfied and perform best when they feel that their actions stem from their own desires rather than from external pressures.

Self-efficacy

An individual's belief in their own capability to complete tasks and reach goals, influencing motivation and performance.