The capital account

measures income flows in and out of the economy.

is hugely negative in the US economy currently.

measures net changes in international ownership of assets.

all of the above.

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Question 81 pts

Statement I: The U.S. and nearly all other industrial nations now operate on a system of fixed exchange rates. Statement II: In 1971, the U.S. adopted the gold exchange standard.

Statement I is true and statement II is false.

Statement II is true and statement I is false.

Both statements are true.

Both statements are false.