The tax cuts of 2008 and 2009 reduced the disposable income of U.S. consumers
a. True
b. False
Indicate whether the statement is true or false
False
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When a foreign investor buys a bond issued in the United States,
A) the balance on the financial account increases. B) the balance of trade increases. C) the balance on the current account increases. D) the balance on the capital account increases.
Duesenberry's relative income hypothesis is based on the belief that consumption spending
a. depends on current income b. is rooted in status c. is based on transitory income d. depends on permanent income e. is based on absolute income
Mainstream macroeconomics would suggest that fiscal policy
A. has no effect unless the fiscal policy is accompanied by changes in the money supply. B. changes aggregate demand and GDP by changing aggregate expenditures. C. is relatively ineffective because the outcomes are anticipated and offset. D. affects GDP and the price level through changes in aggregate supply.
Sweden is:
A. not a member of the Euro system or the European Union. B. a member of the Euro system but not a member of the European Union. C. a member of the European Union but not a member of the Euro system. D. a member of both the European Union and the Euro system.