The total amount of money that a government owes at a point in time is called:
A. public debt.
B. a budget deficit.
C. a budget surplus.
D. national surplus.
Answer: A
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Under the Bretton Woods exchange rate system, ________ could sell their dollars to the American government in exchange for gold
A) American citizens B) foreign central banks C) foreign citizens D) all of the above
Expansionary fiscal policy should be used if:
A) aggregate demand-aggregate supply equilibrium is below potential output. B) aggregate demand-aggregate supply equilibrium is above potential output. C) aggregate demand-aggregate supply equilibrium is equal to potential output. D) none of the above.
Current account transactions are all payments that are related to the purchase or sale of
A) goods only. B) services only. C) goods and services only. D) goods and services excluding government purchases.
The likelihood of successful private solutions to problems caused by externalities depends, in part, upon the number of interested parties. Briefly explain