In 2013, which of the following countries had the highest negative current account balance?
a. United Kingdom
b. France
c. United States
d. Japan
a. United Kingdom
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Ceteris paribus, expanding loans made by the commercial banking system: a. changes the composition, but not the magnitude, of the money supply. b. decreases the money supply
c. increases the money supply. d. would help to stabilize an economy experiencing rapid inflation.
Economists observed the following growth rates in the fourth quarter of 1995: real GDP = 2.8 percent; M1 = 7.8 percent; GDP Deflator = 2.2 percent. Given this data, the growth of nominal GDP was approximately
a. 12.8 percent. b. 10.0 percent. c. 5.6 percent. d. 5.0 percent. e. 0.6 percent.
Total revenue increased for a firm operating in the elastic range of its demand curve. Which of the following statements is correct?
A. The firm must have raised price. B. The firm must have lowered price. C. Quantity demanded must have increased. D. both a and c E. both b and c
The effect of a decline in taxes on the level of income will differ somewhat from an increase in government expenditures of the same amount because:
A. Tax declines tend to be more expansionary B. Households may not spend all of an increase in disposable income C. The MPC which applies to the incomes of households always exceeds the MPC which applies to business incomes D. The multiplier is high when the MPS is low