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Home  arrow Student Resources  arrow Chapter 12: National Income Accounting and the Balance of Payments  arrow Quiz

Quiz



This activity contains 10 questions.

Question 1.
What is the difference between GNP and GDP?

 
End of Question 1


Question 2.
Which of the following is true for a closed economy, but is not necessarily true for an open economy?

 
End of Question 2


Question 3.
Which of the following is NOT an account in the balance of payments?

 
End of Question 3


Question 4.
A purchase of foreign reserves by a country's Central Bank would be reflected as:

 
End of Question 4


Question 5.
What does the term "balance of payments deficit" refer to?

 
End of Question 5


Question 6.
Which of the following is NOT true about the current account?

 
End of Question 6


Question 7.
If the U.S. buys Web services from an Indian company, and the Indian company deposits the payments in the branch of an American bank, it will be reflected in the U.S. balance of payments as:

 
End of Question 7


Question 8.
A Japanese tourist goes to a casino in Las Vegas and pays from his bank account at a Japanese bank using his bank card. This transaction will be reflected in the U.S. balance of payments as:

 
End of Question 8


Question 9.
If a U.S. bank forgives a large share of a debt owed by a firm in Argentina, it will be reflected in the U.S. balance of payments as:

 
End of Question 9


Question 10.
What is official settlements balance?

 
End of Question 10





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