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Multiple Choice Quiz
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1.
The U.S. current account does not include:
A)net exports of goods.
B)U.S. grants to foreign countries.
C)the sale of U.S. bonds to foreigners.
D)income receipts from foreigners.
2.
Which of the following is entered as a credit in the U.S. balance of payments?
A)A construction company in the U.S. imports $5 million worth of steel from Japan.
B)Gold leaves the U.S. Treasury for another country.
C)An American auto manufacturer exports $56 million in cars to Europe.
D)The United States grants $4 billion in aid to Russia.
3.
Which of the following is entered as a debit on the U.S. capital account?
A)A U.S. resident buys stock in a German company.
B)A Japanese resident buys 300 shares of GM stock.
C)A U.S. resident sells 500 shares of BMW.
D)A British resident sells 415 shares of Ford.
4.
Which of the following formulas is correct?
  1. E = C + Id – G
  2. S = Id + If
  3. CA = X-M=Y-E
  4. B = CA + KA
A)(1) + (2) + (3) + (4)
B)(1) + (2) + (3)
C)(2) + (3) + (4)
D)(2) + (4)
5.
Which of the following statements about the United States’ role as a creditor is not correct?
A)After World War I, the United States became the world’s leading creditor.
B)The United States reached a peak nominal creditor position in 1993.
C)By early 1989, the United States became a net debtor.
D)None of the above.





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