For the following questions, answer the following in terms of how the USA’s balance of payments is affected: A = (+) impact on the current account B = (-) impact on the current account C = (+) impact on the capital account D = (-) impact on the capital account Guatemalan fabrics are imported by an American firm that uses them to make purses. 

Suppose that Mexico purchases $534M worth of stuff from the USA. The USA purchases $619M worth of stuff from Mexico. Mexico has a _______ of ______. 

Which of the following are captured in the United States’ GDP? (check all that apply)

MGF 1106  TEST #2 P : Chapter 3 KEEP YOUR WORK NEAT, ORGANIZED, AND NUMBERED ON YOUR SCRAP PAPER IN CASE THERE ARE ANY  YOU WANT ME TO LOOK AT FOR PARTIAL CREDIT. If there are any questions you missed and want me to review for possible partial credit, you will have 5 minutes after you submit your test to Honorlock to then scan your work and upload to Canvas Assignments . NOTE:  IN ORDER TO RECEIVE ANY CREDIT FOR QUESTIONS #17 – 20,  YOU MUST SCAN YOUR WORK (EITHER THE TRUTH TABLE OR THE EULER DIAGRAM)  AND UPLOAD IT TO CANVAS ASSIGNMENTS – TEST 2, QUESTIONS #17 – 20 WITHIN 5 MIN OF SUBMITTING YOUR TEST TO HONORLOCK.    EACH TABLE OR DIAGRAM MUST JUSTIFY / SUPPORT YOUR ANSWER.  

Suppose a country weakens its currency. That would make its products more affordable to other countries and they would sell more. 

The most wisely used currency in the world is the USD. 

Consumer surplus is captured by looking at the difference between what a consumer is WILLING to pay and what he is ASKED to pay. 

I understand that some units might have more than one deadlines that fall on more than one date. 

I will be prompted to show my testing environment. It is my responsibility to prove that my environment is consistent with expectations. For example, for tests, notes are put away, there is nothing on my desk or on walls, phone and other computers are put away, etc. 

Like China, Thailand focused on regulations and laws that limited number of births, but they were limited to 2 instead of 1.