Saving done for the purpose of leaving an inheritance is called ________ saving.
A. public
B. bequest
C. life-cycle
D. precautionary
Answer: B
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If the crowding-out effect is strong, how will the potency of discretionary fiscal policy be affected?
a. It will make fiscal policy more potent. b. It will make fiscal policy less potent. c. The potency of fiscal policy will be unaffected. d. The potency of contractionary will be reduced.
If a nation specializes in activities in which opportunity costs are the lowest and then trades with other nations, it is most likely to:
a. have a higher standard of living for its citizens than it would if it did not specialize and then trade. b. have a lower standard of living for its citizens than it would if it did not specialize and then trade. c. create as much wealth for its citizens as it could if it did not specialize and then trade. d. benefit in the short run but incur heavy loss in the long run. e. incur heavy loss in the short run and eventually cease production in the long run.
In Figure 1 below if the economy were at Y1 then we would expect there to be:
A. a reduction in inventories.
B. an increase in inventories.
C. no change in inventories.
D. an increase in consumption spending.
When a good does not have a __________ attached to it, private markets fail to ensure that the good is produced and consumed in the proper amounts
Fill in the blank(s) with correct word