Payments by the government to the public for which the government receives no current goods or services in return are called:
A. capital losses.
B. net taxes.
C. public saving.
D. transfer payments.
Answer: D
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The US government began tracking poverty in the late:
A. 1950s. B. 1960s. C. 1970s. D. 1940s.
Suppose that a labor union leader is trying to bargain for an increase in union workers' real wages of 5 percent. If he expected the price level to rise at a rate of 3 percent this year, how much would nominal wages need to increase for him to accomplish his objective?
a. 2 percent b. 3 percent c. 5 percent d. 8 percent e. 15 percent
The acronym HICP stands for:
(a) Harmonised Index of Consumer Prices; (b) Higher Institute for Central Planning; (c) Harmonised Index of Current Production; (d) Hyper-Inflation Control Programme.
Suppose the U.S. inflation rate falls while the inflation rate among the members of the European Monetary Union (EMU) holds constant. Other things equal, what will happen in the balance of payments accounts?
What will be an ideal response?