An excess demand for domestic currency at current exchange rates is known as a
A. Balance-of-payments deficit.
B. Trade surplus.
C. Trade deficit.
D. Balance-of-payments surplus.
Answer: D
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The current international financial system is a managed float system
a. True b. False
If the government borrows to purchase goods and services, today's consumption of government goods and services will be paid for by
A. today's taxpayers and tomorrow's taxpayers in even shares. B. government employees. C. today's taxpayers. D. future taxpayers.
In the long run, the most important factor that shifts the aggregate supply curve is
A. technological change. B. change in prices of inputs. C. business confidence. D. change in net trade
The interest rate paid on government securities that mature in less than a year is the
A. discount rate. B. Treasury bill rate. C. federal funds rate. D. prime rate.