The process of packaging a variety of loans together and slicing them up into new financial instruments is called:
A. diversifying.
B. securitization.
C. defaulting.
D. liquidating.
Answer: B
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Under the Bretton Woods agreement, the officially determined value of a country's currency is referred to as its
A) GDP. B) par value. C) exchange rate. D) value-to-weight ratio.
If country A can produce both goods X and Y more efficiently, that is, with smaller absolute amounts of resources, than can country B:
A. mutually advantageous specialization and trade between A and B may still be possible. B. we can conclude that A is an industrially advanced economy and B is a developing economy. C. it will necessarily be advantageous for B to import both X and Y from A. D. then there is no possible basis for mutually advantageous specialization and trade between A and B.
The government sector balance is equal to net taxes ________ government expenditure on goods and services
If that number is ________, a government sector surplus is lent to other sectors; if that number is ________, borrowing from other sectors must finance a government deficit. A) plus; positive; negative B) minus; negative; positive C) minus; negative; negative D) minus; positive; positive E) minus; positive; negative
Refer to Figure 23-1. According to the figure above, at what point is aggregate expenditure greater than GDP?
A) J B) K C) L D) none of the above