In the national income accounts, government expenditure on goods and services refer to those purchases made by
A) federal and state governments only.
B) the federal government only.
C) state and local governments only.
D) all levels of government.
D
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At a given nominal rate of interest, when spending is equal to output and there is uncovered interest parity, we have:
A) real exchange rate parity. B) equilibrium in the goods market and in the forex market. C) stable inflation and low unemployment. D) depreciation of the home currency.
Which one of these is not a major aim (or goal) of bankers?
A. Maximizing their holdings of excess reserves B. Protecting their depositors C. Maintaining liquidity D. Making high profits
Changes in interest rates cause a shift in:
a. the aggregate demand curve b. The aggregate supply curve c. The investment demand curve d. The production possibilities curve
The United States imports garments from third world countries. This means that if the U.S. economy were closed, the domestic price of goods would be ________ the world price of garments.
A. less than B. equal to C. greater than D. close to