The combination of high unemployment and high inflation is termed
A. reflation.
B. stagflation.
C. depression.
D. unflation.
Answer: B
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If the current account is in surplus and the capital account is zero, then
A) net exports must be positive. B) the balance of payments must be in surplus. C) the financial account must be in deficit. D) there is a capital inflow.
Which of the following is a tax on labor?
a. Medicare tax b. Social Security tax c. federal income tax d. All of the above are labor taxes.
The time needed for changes in monetary of fiscal policy to affect the economy is called the ________ ________
a. Recognition Lag b. Decision-Making Lag c. Implementation Lag d. Effectiveness Lag
Suppose you earn $50 a week at your job. You like to go to movies and have dinner with friends. Movies cost $15 each and dinner is $20 each time you eat out. Which of the following combinations is attainable given your weekly budget?
A. 2 dinners and 2 movies B. 4 movies C. 2 movies and 1 dinner D. 3 dinners