Of the following major objectives of government, the most recent one is
a. providing public goods.
b. maintaining order.
c. defending order.
d. maintaining defense against external enemies.
e. promoting equality.
Ans: e. promoting equality.
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Are You Equipped? exercises are located at the beginning of the chapter
Indicate whether the statement is true or false
Which of the following summarizes American views on overseas military expeditions?
A. Leery of them, but once started, Americans want to win, even if it means more intense fighting. B. Generally pacifistic unless the United States directly is attacked. C. Generally in favor of military action all the time. D. In favor of starting wars, but generally not to continue fighting them. E. None of these are correct.
The "new international economic order" proposed to
a. allow the World Bank to determine unfair trade barriers. b. establish gold as the international medium of exchange. c. permit developing countries to set high tariffs on goods from developed countries. d. use international trade to distribute power and wealth from rich countries to poor ones.
Explain the difference between fiscal policy and monetary policy. How does each tool work? Who is responsible for them?
What will be an ideal response?