Steve is a professor of Economics at New York State University. He worked in India for a month. The income that he earned from India will be reported as ________ in the U.S. current account.
A) factor payments B) exports C) transfer payments D) imports
Question 2
Budget deficits inevitably lead to inflation in
A) nations that are unable to borrow from the public.
B) small nations.
C) nations that can easily borrow from the public.
D) budget deficits have no effect on inflation.