Sound finance holds that government spending should be directed toward sound investment.
Answer the following statement true (T) or false (F)
False
Sound finance holds the moral stance that government should stay out of the economy, that is, its budget should always be balanced except in wartime.
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Economics is the only social science and the only business discipline for which the Nobel Prize is awarded.
a. True b. False
A floating exchange rate
a. is determined by the national governments involved b. remains extremely stable over long periods of time c. is determined by the actions of central banks d. is allowed to vary only within a narrow range e. adjusts in response to market forces
Which one of the following countries has a high level of trade, exporting almost 50% of their total production?
a. United States b. United Kingdom c. Germany d. Italy
The Ogallala aquifer is a large underground pool of fresh water under several western states in the United States. Any farmer with land above the aquifer can at present pump water out of it. Which of the following statements about the aquifer is correct?
a. The aquifer is a public good which must be publicly owned to be used efficiently. b. The aquifer is a private good which must be privately owned to be used efficiently. c. The aquifer is a common resource which will be overused if no one owns it. d. The aquifer is a club good which should be left as it is.