With regard to British trade and commercial policies, all of the following are true except
(a) British trade and commercial policies had been somewhat beneficial, from the colonials' point of view, but now (the 1770s) they had become intolerable.
(b) These policies, unlike land, did not take away American rights so much as they attempted to tax the exercise of them.
(c) After 1763 the English believed they were free to change their policies drastically to better accomplish the policy goals.
(d) By the 1770s, like land, these policies had become insupportable after a long period of relative success.
(a)
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A surplus in a country's balance of trade occurs whenever the country
A. has money outflows that exceed its money inflows. B. refrains from trade with OPEC countries. C. exports more goods than it imports. D. imports more financial capital than it exports.
The equation now called the ______________ starts with a 2 percent real interest rate, and then instructs the Fed to lower the interest rate in proportion to any recessionary gap and to raise it in proportion to any excess of inflation above 2 percent.
A. Taylor rule B. rule of 70 C. Spencer’s rule D. None of the above is correct.
The Fed has immense power and there are no limits to the extent to which it can effectively control the economy.
Answer the following statement true (T) or false (F)
Goods that have external benefits include:
A. all public goods and all private goods. B. all private goods but no public goods. C. all public goods but no private goods. D. all public goods and some private goods.