Economists agree that the cause of the slow economic growth during the 1970s was the tight fiscal policy.
Answer the following statement true (T) or false (F)
False
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During this year, a country reports imports of $1,000 billion, exports of $1,100 billion, foreign investment in the country of $900 billion, investment abroad of $1,200 billion, net interest and net transfers of zero
What is the country's current account balance?
Under the bimetallic system, when did the U.S. experience a depletion in its reserve species?
(a) When imports exceeded exports (b) When exports exceeded imports (c) When the U.S. closed its borders to all international trade (d) When the trading partners of the U.S. refused all U.S. imports
Cautious banks may choose to hold excess reserves instead of lending them
Indicate whether the statement is true or false
Union contracts that have built-in cost-of-living adjustments and home mortgages that vary with the rate of inflation are
a. inappropriate ways of combating inflation b. examples of bracket creep c. means of implementing fiscal policy d. examples of steps that can be taken to decrease the adverse impacts of inflation e. examples of failed discarded policies of the 1970s