Suppose that private saving is $1590 billion, investment is $1945 billion, and the current account balance is -$489 billion. From the uses-of-saving identity, how much is government saving?
A) -$134 billion
B) -$844 billion
C) $844 billion
D) $134 billion
A
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All of the following have enhanced the Fed's credibility in conducting monetary policy except
A) discontinuing the policy of announcing whether it considered the economy to be at greater risk of inflation or recession following each FOMC meeting. B) making the minutes of the open market committee meetings public. C) following through with changes it has announced. D) revealing the Fed's target for the federal funds rate.
Being the low price seller in the market is
A) the best place to be. B) not necessarily the best place to be. C) expected of large firms as they are subject to economies of scale. D) not as preferred as being the high price seller in the market.
If on-the-job working conditions have improved over time,
a. real GDP will understate the growth rate of real income. b. real GDP will overstate the growth rate of real income. c. the GDP deflator will overestimate inflation. d. real GDP will overstate the growth rate of real income, and the GDP deflator will understate inflation.
Theories or models of economic behavior are used to
a. explain very precise details about the economy b. predict economic events and develop economic policy c. predict consumer behavior but not market behavior d. all of the above