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Which of the following statements is true about the role of gifts given to U.S. citizens from foreigners?

a. Gifts are only included in the balance of payments if the gift is over $1,000,000.

b. Gifts given to U.S. citizens are not included in the balance of payments, but gifts given to foreigners are included as deficit items.

c. Gifts are included in the balance of payments.

d. Gifts are not included in the balance of payments.

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Related questions

Q46. An appreciation of the U. S. dollar would
a. encourage foreigners to invest in the United States
b. discourage foreigners from buying U. S. goods
c. discourage the travel abroad of U. S. citizens
d. encourage foreign travel in the United States

Q47. The financial account of the balance of payments includes the purchase and sale of physical assets but not of financial assets.
a. true
b. false

Q48. Special Drawing Rights are issued by the
a. International Monetary Fund
b. Bretton Woods Organization
c. General Agreement on Tariffs and Trade
d. World Bank

Q49. The balance of payments includes
a. only exports, imports, and service transactions
b. the balance on current account, plus all capital transactions and all official transactions and the statistical discrepancy
c. only the official transactions
d. all goods and services produced in a nation's economy during a given year

Q50. A debit item on the U. S. balance of payments is any transaction that
a. results in a loss by U. S. sellers
b. results in a loss by U. S. buyers
c. makes foreigners use up their holdings of U. S. dollars
d. makes U. S. dollars available to foreigners

1. Contractionary fiscal policy should be used if:

A) aggregate demand-aggregate supply equilibrium is below potential output.

B) aggregate demand-aggregate supply equilibrium is above potential output.

C) aggregate demand-aggregate supply equilibrium is equal to potential output.

D) none of the above.

Ā 

2. The difference between the interest income or receipts earned on investments in the rest of the world by the residents of a given country and the payments to foreigners on investments they have made in the given country is called:

A) unilateral transfers.

B) bilateral transfers.

C) net investment income.

D) gross investment income.

Ā 

3. In the foreign exchange market, the quantity supplied of dollars is 600 whereas the quantity demanded of dollars is 400 results in a:

A) balance of payments surplus of 200.

B) balance of payments deficit of 200.

C) balance of payments surplus of -200.

D) balance of payments deficit of -200.

Which of the following is not included in aggregate demand?

a. Purchases of stock and bonds.

b. Purchases of services such as visits to the doctor.

C. Purchases of capital goods such as equipment in a factory.

d. Purchases by foreigners of consumer goods produced in the United States.

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