_____ are elements of fiscal policy that automatically change in value as national income changes
a. Statistical discrepancies
b. Exchange rates
c. Budget deficits
d. Automatic stabilizers
e. Supply-side shocks
d
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Under exchange-rate targeting, the central bank in the targeting country ________ lose the ability to pursue its own independent monetary policy and any shocks to the anchor country is ________ transmitted to the targeting country
A) does; directly B) does not; directly C) does; not directly D) does not; not directly
Which of the following is not included in the current account of the balance of payments?
a. expenditures for travel and transportation by foreign tourists b. sale of IBM stock to a foreign investor c. sales of military hardware to foreign governments d. unilateral transfers
A simple way of describing the social cost of monopoly is to say that it
A) produces too much. B) makes too much money. C) has too much political power. D) restricts output and charges a higher price than a perfectly competitive firm.
________ states that under certain conditions, private parties can arrive at an efficient solution without government involvement.
A. The Tiebout hypothesis B. The free-rider hypothesis C. The Coase theorem D. The impossibility theorem