A closed economy is one that
A) has no government sector.
B) neither borrows from nor lends to foreign countries.
C) produces mainly agricultural goods.
D) produces mainly manufactured goods.
B
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During which years did the country have a budget deficit?
A) 2008 and 2009 B) 2012 only C) 2011 only D) 2010 and 2012 E) all except 2011
Devastating damage resulting from a major earthquake and tsunami will most likely
A) initially move a country to a time path beneath its balanced growth path. B) move a country to a lower point on its balanced growth path. C) shift the balanced growth path for a country to a new, lower level. D) have little to no impact on the short-term growth rate in a country.
Mergers that significantly impede effective competition are ________.
A) prohibited by both the United States and the European Union laws B) prohibited by the European Union competition laws, but not the United States antitrust laws C) prohibited by the United States antitrust laws, but not the European Union competition laws D) generally legal in both the United States and the European Union
Other things being equal, an increase in trade restrictions on imports will:
A. increase the demand for foreign currency, causing it to appreciate. B. increase the demand for foreign currency, causing it to depreciate. C. reduce the demand for foreign currency, causing it to depreciate. D. reduce the demand for foreign currency, causing it to appreciate.