In 2001, Greece had a per-capita GDP ________ percent lower than Netherlands' per-capita GDP.
A. 20
B. 40
C. 30
D. 50
Answer: D
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The main difference between stabilization policies and structural reform policies is that stabilization policies
A) focus on microeconomic issues and structural reform policies focus on the macroeconomic environment. B) focus on macroeconomic issues and structural reform policies focus on the microeconomic environment. C) are rarely used by reform governments; they prefer to use structural reform policies in their place. D) have smaller economic impacts than structural reform policies. E) create less unemployment than structural reform policies.
Off-budget expenditures are a recent phenomenon, originating during World War I
a. True b. False
In a simple closed economy, the income approach to calculating GDP is:
A. wages + interest + rental income - profits. B. wages + government - earned interest + rental income + profits C. wages + interest + government income + profits D. wages + interest + rental income + profits.
Aggregate demand is about _________ and aggregate supply is about _________.
Fill in the blank(s) with the appropriate word(s).