Question 1
By the mid-1980s, the United States
◦ was neither a creditor nation or a debtor nation, as its current account and capital account were both valued at zero.
◦ was both a creditor nation and a debtor nation, as its balance of payments was equal to zero.
◦ changed from a creditor nation to a debtor nation.
◦ changed from a debtor nation to a creditor nation.
Question 2
The current international monetary system is based on a gold standard.
◦ true
◦ false