Answer the Following Questions Briefly

question 4

Essay

Answer the following questions briefly.
(a) Is it possible for each nation to have BOP surpluses? Explain.
(b) What is the "statistical anomaly" that imparts a bias to trade balances?
(c) Is it correct to argue that deficit countries are harmed while surplus countries benefit by international free trade?
(d) How is the balance of payments linked to national saving and investment?

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Definitions:

Noncash Transfer

A government transfer payment in the form of goods and services rather than money, for example, food stamps, housing assistance, and job training; also called in-kind transfers.

TANF

Temporary Assistance for Needy Families is a US federal program aimed at aiding families in need to become self-sufficient.

SNAP

The Supplemental Nutrition Assistance Program, a federal aid program providing food-purchasing assistance for low- and no-income people in the U.S.

Income Mobility

The extent to which individuals or households can move up or down the income distribution ladder within a society over time.