Which of the following describes the time period during which the international monetary system operated on a managed float system?
a. From the late 19th century until the beginning of World War I.
b. In the period between World War I and World War II.
c. During the period of the Bretton Woods agreement from 1944 to 1971.
d. Since the end of the Bretton Woods agreement.
d
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Since 1970, the U.S. federal government had a budget surplus
A) in almost every year. B) in a few years in the 1990s. C) only once, in 2008. D) The U.S. federal government has not had a budget surplus since 1970.
Refer to Figure 5-13. The efficient equilibrium price of gasoline is ________ per gallon
A) $3.00 B) $3.75 C) $4.25 D) $5.00
According to classical theory, a shift in aggregate demand will affect
A) the price level only. B) real Gross Domestic Product (GDP) only. C) the level of employment only. D) both real Gross Domestic Product (GDP) and the level of employment.
Nominal federal spending is a
a. good indicator of how responsibility the federal government is b. good indicator of the overall economy's performance c. measure of the public's concern for the educational needs of the country d. warning sign that our governmental officials are sometimes out of control e. misleading measure of government's effect, unless it is seen in the context of the country's income