The government budget surplus equals
A) government purchases plus transfers.
B) government receipts minus government outlays.
C) government purchases minus net receipts.
D) government purchases minus transfers.
B
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For the purchasing power of money to increase, the price level has to fall
Indicate whether the statement is true or false
A financial intermediary accepts deposits from savers and makes loans to borrowers
a. True b. False Indicate whether the statement is true or false
If the price in U.S. dollars for one Singapore dollar is 0.625 U.S. dollars, then the price in Singapore dollars for one U.S. dollar is:
a. 1.0 Singapore dollars. b. 0.625 Singapore dollars. c. 1.6 Singapore dollars. d. 0.375 Singapore dollars. e. 2.66 Singapore dollars.
Inflation is a rise in the price level. If it is caused primarily by a decrease in aggregate supply, then we refer to it as
a. demand-push inflation b. cost-pull inflation c. demand-pull inflation d. cost-push inflation e. supply-push inflation