The major trade groups in South America are CAN and Mercosur.
a. true
b. false
a. true
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Suppose the following information describes the economy:Household saving300Business saving700Government purchases1,000Government transfers and interest payments500Government tax collections1,500GDP5,000Public saving equals ____and national saving equals ________.
A. 1,000; 2,000 B. 0;0 C. 0; 1000 D. 0; 300
Banks lost trillions of dollars when the housing bubble collapsed because:
A. many borrowers defaulted on their mortgages. B. many large banks held massive quantities of mortgage-backed securities. C. most of their customers had to close their accounts due to foreclosures. D. Both A and B are correct.
During economic slowdowns (recessions) the velocity of money tends to:
A. increase dramatically. B. increase slightly. C. decrease. D. remain relatively stable.
In The General Theory of Employment, Interest, and Money, Keynes
A. recommended international trade to increase economic stability after recessions. B. encouraged government actions to shorten the recovery time of recessions.. C. supported free markets. D. observed budget surpluses were necessary fixes following budget deficits.