Public saving is:
A. identical to the government budget surplus.
B. less important to national saving than private saving.
C. more important to national saving than private saving.
D. increased when the government budget deficit rises.
Answer: A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Why has the IMF come in for widespread criticism for its handling of the Asian financial crisis?
A) It refused to make loans to any of the countries whose currencies were under speculative attack. B) Its policies did not sufficiently punish speculators with losses, giving rise to moral hazard. C) Its policies led to unsustainably low interest rates in a number of Asian countries. D) Its policies failed to lead to sufficient hardship for citizens in a number of Asian countries, giving rise to moral hazard.
A member in a cartel can earn more profits by
A. selling less than the agreed amount. B. charging a slightly lower price and raising production. C. producing less than the agreed rate. D. none of these.
An oil company has the opportunity to extract oil from a reserve in three years with a per barrel profit of $70 per barrel. The current market rate of interest is 4 percent. The present value of this future extraction is about:
A. $55 B. $62 C. $70 D. $72