Which of the following sequence of events follows an expansionary fiscal policy?
A) AE? Y? Md? r? I? AE?.
B) AE? Y? Md? r? I? AE?.
C) AE? Y? Md? r? I? AE?.
D) AE? Y? Md? r? I? AE?.
Answer: B) AE? Y? Md? r? I? AE?.
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If the structural deficit is zero,
A. If the economy goes above full employment, the cyclical deficit will get larger. B. At full employment, the budget is balanced. C. Federal tax revenue equals federal government expenditures at any equilibrium GDP. D. If the economy enters a recession, a budget surplus will result, ceteris paribus.
The dollar is said to depreciate against the euro if
a. the exchange rate falls. Other things the same, it will cost fewer euros to buy U.S. goods. b. the exchange rate falls. Other things the same, it will cost more euros to buy U.S. goods. c. the exchange rate rises. Other things the same, it will cost fewer euros to buy U.S. goods. d. the exchange rate rises. Other things the same, it will cost more euros to buy U.S. goods.
A citizen of Mexico who has lived in El Paso, New Mexico, during the past three years has just sent $100 to relatives in Mexico for Christmas. This transaction is
A. counted in the U.S. balance of payments as an export item. B. counted in the U.S. balance of payments as a surplus item. C. counted in the U.S. balance of payments as a current account item. D. none of these.
The impact of criminalization upon price is ambiguous because it
A. increases supply and increases demand. B. increases supply and reduces demand. C. reduces supply and increases demand. D. reduces supply and reduces demand.