A measure of the change in the stock of real and financial assets held by a country's residents in a foreign country and by foreigners in the given country is called the:
A) current account.
B) financial account.
C) national income product account.
D) none of the above.
B
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Refer to the scenario above. If this game is repeated several times, the players will eventually reach an equilibrium where Beth will earn ________ and Charles will earn ________
A) $0; $10 B) $10; $10 C) $0; $50 D) $20; $20
What determines the interest rate in a small open economy?
What will be an ideal response?
Government demand-management policies that are used to try to increase the equilibrium level of output in the economy are known as
a. expansionary policies. b. fiscal dividends. c. output policies. d. laissez-faire policies.
If employees and employers always accurately predict inflation, what is the shape of the Phillips curve?
a. It is horizontal in the short and long run. b. It is vertical in the short and long run. c. It is vertical in the short run and upward sloping in the long run. d. It is downward sloping in the short run and vertical in the long run.