1.Transfer payments are: A)payments made to firms for investment. B)payments that do not require a good or service in exchange. C)considered a part of government purchases. D)an important component of GDP because they increase consumption spending. 2.A country's exports minus its imports measures: A)net exports. B)gross exports. C)net imports. D)gross imports. 3.A trade deficit occurs when: A)foreign remittances paid are less than foreign remittances received. B)exports are less than imports. C)exports equal imports. D)exports are greater than imports.

Option (B) payments that do not require a good or service in exchange.Transfer payments such as…

Answered: 1. Transfer payments are: A)…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1.	Transfer payments are:
	A)	payments made to firms for investment.
	B)	payments that do not require a good or service in exchange.
	C)	considered a part of government purchases.
	D)	an important component of GDP because they increase consumption spending.

2.	A country's exports minus its imports measures:
	A)	net exports.
	B)	gross exports.
	C)	net imports.
	D)	gross imports.

3.	A trade deficit occurs when:
	A)	foreign remittances paid are less than foreign remittances received.
	B)	exports are less than imports.
	C)	exports equal imports.
	D)	exports are greater than imports.

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