A Nation's Current Account Is

question 26

Multiple Choice

A nation's current account is:

• A) its current budget deficit.
• B) the previous year's budget deficit.
• C) a record of a nation's income, expenditure, deficit, and surplus during a particular period.
• D) the difference between its total wealth and its total debt.

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Definitions:

Permanent Residents

Individuals who have been granted the right to live indefinitely within a country other than the one of their citizenship, with certain rights and obligations.

Green-card Recipients

Individuals who have been granted authorization to live and work in the United States on a permanent basis.

Marginal Benefit

The additional benefit or satisfaction experienced when consuming another unit of a good or service.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.