Which of the following factors can partly explain the long-term growth in production in the U.S. economy?
a. Trade surpluses and accumulation of precious metals
b. A gradual but consistent increase in the price level
c. Growth in population
d. Improvements in technology
e. Federal government budget deficits
d
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Which of the following is not considered a major player in the financial system?
A. Banks B. Savers C. Businesses D. Labor unions.
When a country imports more than it exports, it has a:
A. trade deficit. B. trade surplus. C. zero trade balance. D. policy which forbids exportation.
New Keynesian theory differs from new classical theory in that New Keynesian theory assumes that wages and prices are not completely flexible in the short-run, while fully flexible wages and prices are an assumption of new classical theory
Indicate whether the statement is true or false
The difference between the value of goods exported and imported is the:
A. financial and capital account balance. B. current account balance. C. government financial balance. D. balance of merchandise trade.