Supporters of globalization argue that increased globalization will lead to:
a. increased living standards.
b. decreased budget deficits.
c. decreased trade deficits.
d. currency appreciation.
e. monetary stability.
a
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What made the recession of 2007-2009 different than any other recession since the Great Depression?
A) the government did not implement a fiscal stimulus B) the Fed failed to reduce interest rates C) it was accompanied by a financial crisis D) the impact was primarily limited to the financial sector
A widely held theory of bureaucratic behavior is that:
a. government bureaus seek to maximize their budgets. b. government bureaus operate at a profit. c. bureaus sell public goods and services in a market. d. bureaus are more concerned with satisfying consumer demand than are firms.
A closed economy
a. does not engage in international trade of goods and services. b. does not engage in international borrowing or lending. c. both A and B d. engages in international borrowing and lending.
Y = C + I + G + NX is an identity because
a. each symbol identifies a macroeconomic variable. b. the right-hand and left-hand sides are equal when an equilibrium is reached. c. the equality holds due to the way the variables are defined. d. None of the above is correct.