In 1980, the U.S. budget was ________, private saving was ________ domestic investment, and foreign borrowing was ________
A) in deficit, higher than, not needed to finance deficit
B) balanced, roughly equal to, not needed to finance deficit
C) balanced, less than, substantial.
D) surplus, greater, negligible
A
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The Coase theorem is the proposition that if property rights exist and are enforced, private transactions are
A) inefficient. B) efficient. C) inequitable. D) illegal. E) unnecessary.
One of the widely-acknowledged problems with the consumer price index (CPI) as a measure of the cost of living is that the CPI
a. fails to account for consumer spending on housing. b. accounts only for consumer spending on food, clothing, and energy. c. fails to account for the fact that consumers spend larger percentages of their incomes on some goods and smaller percentages of their incomes on other goods. d. fails to account for the introduction of new goods.
Suppose you earn $4,800 a month and spend exactly $160 in each of the 30 days. If your entire earnings are deposited in your checking account at the beginning of the month, then your average quantity of money demanded is
A) $160. B) $1,200. C) $2,400. D) $4,800.
A small open economy increases its desired saving. This causes the world real interest rate to ________ and the country's current account balance to ________.
A. fall; fall B. fall; rise C. remain unchanged; fall D. remain unchanged; rise