Determinants of macro performance work on macro outcomes through
A. Internal market forces.
B. International balances.
C. External shocks.
D. Aggregate supply and demand.
Answer: D
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
In the case of a negative externality, the entire marginal social cost curve lies
A. below the entire marginal private cost curve by the amount of the external costs associated with the negative externality. B. below the entire demand curve by the amount of the external costs associated with the negative externality. C. above the entire marginal private cost curve by the amount of the external costs associated with the negative externality. D. above the entire demand curve by the amount of the external costs associated with the negative externality. E. none of the above
Which is a stock variable?
A) Labor B) Profit C) Income D) Capital E) Price
Any terms of trade within the limits set by domestic opportunity costs will be mutually harmful, because each country tries to push the other as close to the limits of the terms of trade as possible
a. True b. False Indicate whether the statement is true or false