Increasing U.S. trade deficits result in:
a. federal budget surpluses
b. increased U.S. savings.
c. reduced purchases of U.S. government bonds by people in other countries.
d. accumulation of dollars overseas.
e. increased U.S. investment abroad.
d
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Which of the following items is included when computing M1?
a. Coins in circulation. b. Currency in circulation. c. Checking accounting entries. d. All of the above. e. None of the above
In an open shop no one is forced to ___________.
Fill in the blank(s) with the appropriate word(s).
Real business cycle theory emphasizes the role of:
A. demand shocks as a cause of economic fluctuations. B. technology shocks as a cause of economic fluctuations. C. shocks to the money supply as a cause of economic fluctuations. D. government spending as a cause of economic fluctuations.
The original Keynesian economic theory states that
A. many prices would not decline even when aggregate demand decreases. B. the short-run aggregate supply (SRAS) curve is always vertical. C. wages tend to fall more quickly than the overall price level. D. the economy naturally self-regulates so as to reach full employment quickly.