The government budget deficit, ________, is ________ when saving exceeds domestic investment
A) (T - G), created
B) (T - G), partially financed
C) (G - T), created
D) (G - T), partially financed
B
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Suppose this year Angola borrows $100 million from foreign countries, while it lends $15 million to other countries. Angola definitely is a
A) net borrower. B) net lender. C) creditor nation. D) debtor nation.
Which of the following does NOT affect the position of the DD curve?
A) monetary policy B) government spending C) taxes D) export demand E) price levels
The classically-based models (classical, new classical, monetarist, real business cycle) all agree that
a. markets always clear. b. monetary policy can affect output in the short-run but not the long-run. c. changes in aggregate drive most changes in output. d. stabilization policy is ineffective. e. None of the above
Full employment is defined by all economists as precisely 5 percent of the labor force
a. True b. False Indicate whether the statement is true or false