The official settlements account is the record of
A) payments for imports, receipts for exports, net interest, and net transfers.
B) changes in the government's holdings for foreign currency.
C) exports of capital goods minus imports of capital goods.
D) foreign investment in the nation minus the nation's investment abroad.
E) a nation's international trading, borrowing and lending.
Question 2
The table above shows the situation in the gasoline market in Tulsa, Oklahoma. If the price of a gallon of gasoline is 3.73, then
A) there is a surplus of gasoline in Tulsa.
B) there is a shortage of gasoline in Tulsa.
C) the gasoline market in Tulsa is in equilibrium.
D) without more information we cannot determine if there is a surplus, a shortage, or an equilibrium in the gasoline market in Tulsa.
E) there is neither a surplus nor a shortage, but the market is NOT in equilibrium.
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