(a)

A country that during its entire history has borrowed more from the rest of the world than it has lent to it is a ________, and a country that during its entire history has invested more in the rest of the world than other countries have invested in it is a ________.

A) debtor nation; creditor nation B) borrower nation; creditor nation

C) net borrower nation; net lender nation D) debtor nation; investor nation

(b)

The government sector surplus or deficit is equal to ________.

A) tariffs minus imports

B) net taxes minus government purchases of goods and services

C) exports minus imports

D) saving minus investment

(c)

The private sector surplus or deficit is equal to ________.

A) saving minus investment

B) income minus consumption

C) income minus consumption minus net taxes

D) income minus consumption minus investment