The effect of changes in economic activity on the budget deficit is called
A) fine tuning.
B) debt monetization.
C) the structural deficit.
D) tax smoothing.
E) none of the above
E
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Economic reasoning implies that economic agents will make decisions:
A) by random selection. B) by comparing the costs and benefits of various options. C) solely on the basis of tastes and preferences for various options. D) by replicating the choices made by other economic agents.
Let's assume producers in Canada can make 200 units of beef or 50 units of oranges, and U.S. producers can make 50 units of beef or 200 units of oranges per time period. Producers in which nation have an incentive to specialize in beef production?
A) The U.S. B) Canada C) Both of the above have an incentive to specialize in beef production. D) Neither of the above have an incentive to specialize in beef production.
The long-run Phillips curve is a vertical line at the natural rate of unemployment
a. True b. False Indicate whether the statement is true or false
If a country has a net capital inflow, it is almost certainly experiences both capital inflows and capital outflows
a. True b. False Indicate whether the statement is true or false