9. Refer to Figure 15-1. The supply curve of dollars in the foreign exchange market represents
IV.foreigners’ purchases of U.S. assets.
10. A deficit in the current account implies
11. Suppose an American family from New York City eats in a restaurant in Mexico City. How will this transaction be recorded in U.S. international transactions?
12. Suppose Townsend’s exports equal $1,000 billion, its imports equal $950 billion, and purchases of foreign assets by its citizens equals $900 billion. What is the value of Townsends’ assets purchased by foreigners?
Chapter 311. A Phillips curve implies
2. Refer to Figure below. The figure shows the three phases of the inflation-unemployment cycle. What are these three phases, moving clockwise from point A?