The initial impact of ________ the money supply ________ the balance of payments.
A. contracting; has no effect on
B. expanding; improves
C. contracting; worsens
D. expanding; worsens
Answer: D
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
At each of the three points in the following graph, indicate whether planned aggregate expenditure is greater than, equal to, or less than GDP?
What will be an ideal response?
Moral hazard is a problem
A) peculiar to direct finance. B) peculiar to mutual funds. C) arising before a transaction is consummated. D) arising after a transaction is consummated.
The purchasing power parity theory is a reasonably good explanation for nominal exchange rate determination:
A. in the long run. B. when there are fixed exchange rates. C. when there are significant volumes of non-traded goods and services. D. in the short run.