1) In the balance of payments, a deficit item is any transaction 2)Using trade r
ID: 1164389 • Letter: 1
Question
1) In the balance of payments, a deficit item is any transaction
2)Using trade restrictions to protect special interests such as the U.S. auto industry
is the best long-term solution for threatened U.S. jobs.
3) According to economic historians, one result of international trade is that it
causes persistent world-wide inflation.
4)The asset demand for money is related to which function of money?
that leads to a receipt by a resident of a country or its government. that leads to a payment by a resident of a country or its government. that is an export of a good or service. that makes residents of a country worse off.Explanation / Answer
a) "B"
Deficits are the payment done by the individual or the government.
b) "B"
Protectionism increases the cost of products and makes it costlier for the consumers in the home country. The extra amount is taken by the government as revenue and deadweight loss.
c) "A"
Trade causes the transmission of ideas. It increases the output and consumption of goods worldwide.
d) "C"
Store value of money is the asset value of money.
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