If a nation's government has a budget deficit, then balance on goods and services:
a. Must be positive.
b. Must be negative.
c. Must be increasing the nation's monetary base.
d. None of the above.
.D
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Adam Smith supported the view that ________ greatly influenced its economic growth
A) the culture in a nation B) the institutions in a nation C) the location of a nation D) the geography of a nation
What was the thesis to James O'Neill's paper where he introduced the BRIC acronym?
A) These nations were going to collapse. B) These were failing states and thus a treat to global stability. C) These economies were moribund and needed IMF assistance. D) These nations had the potential to change global trade and capital flows. E) These nations would repeat the patterns of development and business cycles as the United States and Europe had in their economic history.
Economists of the rational expectations school believe that expansionary monetary policy is fully effective only if: a. the policy is anticipated by workers and firms
b. it causes the aggregate supply curve to shift to the left. c. the economy is operating at or above its potential output level. d. policy makers follow through on their previously announced plans. e. the policy is totally unexpected.
The primary objective of agricultural cooperatives is to
a. prohibit imports of agricultural goods into the country b. regulate price by controlling output c. encourage domestic competition that lowers price because most agricultural cooperatives are consumer based d. safeguard the quality of farm goods put on the market to avoid government interference in their markets e. work to facilitate conglomerate mergers