A period of time in which the overall pace of business activity is falling is known as
A. deflation.
B. an expansion.
C. inflation.
D. a contraction.
Answer: D
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Special drawing rights (SDRs) are
A) a reserve asset created by the International Monetary Fund that countries can use to settle international payment obligations. B) a liability payment from a branch bank to a nation's central bank. C) a country's surpluses in their fiscal budgets. D) exchanges of gold between nations.
Which of the following expressions must be equal to national saving for a closed economy?
a. Y - I - G - NX b. Y - C - G c. Y - I - C d. G + C - Y
What might happen in a case of extreme inflation, such as in Germany following World War II?
a. Goods and metals lose their worth. b. The money supply is diminished. c. Productivity grows to meet demand. d. Faith in the value of money erodes.
The marginal principle dictates that marginal cost should equal marginal benefit
Indicate whether the statement is true or false