The difference between an orthodox stabilization plan and a heterodox stabilization plan is that the orthodox plan
A) targets the problem of inflation, while the heterodox plan targets unemployment.
B) reduces trade flows less than the heterodox plan.
C) does not include higher taxes and the heterodox plan does.
D) does not include wage and price controls and the heterodox plan does.
E) eliminates budget deficits, while the heterodox plan only reduces them.
D
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The government budget deficit is
a. the difference between government purchases and government revenues from bonds and taxes b. caused by a lack of business sector investment c. created when the government expenditures exceed net taxes d. caused by leakages in the economy e. is created by government injections
A significant gain from trade in an oligopolistic market results from the increase in the number of product varieties that trade brings.
Answer the following statement true (T) or false (F)
Differences in innate skills and the benefits associated with the division of labor result in
A) diminishing returns. B) self-sufficiency. C) absolute advantage. D) differences in productivity.
A bond is a financial security that represents
A) the portion of profits paid to shareholders. B) ownership in a corporation. C) the interest rate paid on a share of stock. D) a promise to repay a fixed amount of funds.