An annually balanced budget
A. is the same as a cyclically balanced budget.
B. is opposed by many economists because it would require cutting spending and raising taxes during recession, which might very well produce a depression.
C. requires a constitutional amendment.
D. requires the Congress and the President to approve special legislation authorizing the balanced budget.
B. is opposed by many economists because it would require cutting spending and raising taxes during recession, which might very well produce a depression.
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A shift away from expenditures on domestic goods and a shift toward expenditures on foreign goods when the domestic price level increases is known as
A) the interest rate effect. B) demand side inflation. C) the real-balance effect. D) the open economy effect.
In the expenditure approach to GDP, which of the following would be excluded from measurements of GDP?
A) Government payments for goods produced by foreign firms B) Government payments for goods produced by firms owned by state or local governments C) Government payments for welfare D) All government payments are included in GDP.
If other things constant, as more bananas are consumed, marginal utility eventually
a. decreases at the same rate for all people b. decreases at the same rate for all goods for a given person c. increases at the same rate for all people d. decreases at different rates for different people and for other goods e. decreases at different rates for different people but at the same rate as other goods for an individual
Consider the following regression equation: y= 
0+ 1x1 + … +
src="https://sciemce.com/media/2/ppg__cognero__Ch_07_Multiple_Regression_Analysis_with_Qualitative_Information__media__719eb76b-8341-45e9-9b56-8551fff4b40c.PNG" style="vertical-align:middle;" />kxk + u In which of the following cases, is ‘y' a discrete variable? A. y indicates the gross domestic product of a country B. y indicates the total volume of rainfall during a year C. y indicates household consumption expenditure D. y indicates the number of children in a family