The burdens of the national debt generally fall on
A) the present generation. B) past generations.
C) future generations. D) all of the above.
C
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If net exports are equal to net foreign investment
A) the current account balance is equal to the negative of the financial account balance. B) the balance of payments is zero. C) net capital inflows are equal to imports minus exports. D) All of the above are true when net exports are equal to net foreign investment.
Suppose the price for one gallon of gasoline rises from $3.50 to $4.00 and the price of one gallon of milk rises from $3.00 to $3.20 . If the CPI rises from 120 to 132, then people likely will buy
a. more gasoline and more milk. b. more gasoline and fewer milk. c. less gasoline and more milk. d. less gasoline and fewer milk.
"Politics is too often the thing that gets in the way of good economic policy being implemented." The economist who said this most likely
A) believes that fiscal policy is preferable to monetary policy when it comes to stabilizing the economy. B) prefers discretionary monetary policy to rule-based monetary policy. C) believes that there will be a lot of crowding out if government spending is increased. D) prefers rule-based monetary policy to discretionary monetary policy.
Brian is paid monthly and typically takes $500 of his pay in cash to spend throughout the month, and the rest he leaves in an interest-bearing checking account. With the recent inflation, Brian finds it necessary to go to the bank every week, withdrawing $125 each time, so that his money can earn interest for as long as it can before Brian needs to withdraw it. The added hassle of going to the bank more often in response to inflation is called a:
A. tax distortion. B. transactions cost. C. shoe-leather cost. D. menu cost.