The cyclical deficit is
A) the amount by which the actual government budget deficit exceeds the structural deficit.
B) the amount by which structural deficit exceeds the actual budget deficit.
C) the same as the structural deficit.
D) what the budget deficit would be if the economy were operating at the natural real GDP level.
A
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In Figure 11.1, a decrease in the marginal propensity to consume is represented by a change in the consumption function from
A) C1 to C3. B) C3 to C1. C) C2 to C1. D) C1 to C2.
Generally, any human decision is
A) speculative. B) perfectly informed. C) irrational at its base. D) good.
Countries with surpluses in their balance of payments frequently do not want to see their currencies ________ because it makes their goods ________ expensive abroad
A) appreciate; less B) appreciate; more C) depreciate; less D) depreciate; more
The median voter model predicts that in a representative democracy _____
a. party platforms will converge to one preferred by the median voter b. successful politicians will emulate the median voter c. third parties will not exist d. successful politicians come from the median political party