A record of all transactions between households, firms, and the government of one country and the rest of the world is the
A) balance of trade.
B) balance of payments.
C) International Monetary Fund.
D) government budget.
B
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The following Phillips curve of would be consistent with the _____ model(s)
a. Keynesian. b. monetarist. c. monetarist and classical. d. classical. e. None of the above
Several studies in the 1990s concluded that the consumer price index overstated inflation by about
a. 3 percentage points per year, and that number of percentage points likely still applies now. b. 3 percentage points per year, but recent improvements to the CPI probably have reduced the overstatement of inflation to something less than 3 percentage points. c. 1 percentage point per year, and that number of percentage points likely still applies now. d. 1 percentage point per year, but recent improvements to the CPI probably have reduced the overstatement of inflation to something less than 1 percentage point
Economists agree that the cause of the slow economic growth during the 1970s was the tight monetary policy.
Answer the following statement true (T) or false (F)
The linear equation for line (1) on the graph below is:
A. y = 8 + 2x
B. y = 8 + .5x
C. x = 8 + .5y
D. y = 8 - 2x