Which of the following is true of a current account surplus?
a. A country that is running a current account surplus will have negative net exports.
b. A current account surplus is consistent with domestic spending being in excess of domestic production.
c. A current account surplus means that a country is also running a net surplus in its financial account.
d. A country can have a current account surplus only if it exports more services as compared to goods.
e. A country that is running a current account surplus buys more bonds from the rest of the world as compared to what it sells.
Question 2
When the equation X = GDP - C- I - G yields a negative X, it represents a situation in which the country:
a. experiences runaway inflation.
b. experiences robust GDP growth.
c. experiences a huge budget deficit.
d. borrows to cover the difference between production and spending.
e. lends to cover the difference between production and spending.
Annual Federal Deficit (or Surplus), 1992–2016
Average Hourly Earnings of U.S. Workers in Current and Constant Dollars
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