Budget maximization results in a budget equal to that desired by the median voter
a. True
b. False
B
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If the current account balance is -$450 billion, the capital and financial account balance is $440 billion, then the official settlements balance is
A) $890 billion. B) $0 because it is always zero. C) $10 billion. D) -$890 billion. E) -$10 billion.
During an inflationary period with full employment or near-full employment,
a. a progressive income tax structure will worsen inflation. b. unemployment taxes paid by workers will be low. c. total unemployment benefits will be maximized. d. lower disbursements for unemployment compensation will moderate inflation.
Policy makers:
A. dislike inflation because it redistributes income. B. dislike inflation because it allows individuals to maintain illusions. C. like inflation because it allows individuals to maintain illusions. D. like inflation because it makes society richer.
The international agreement signed by the United States and 22 other countries in 1947 to promote the liberalization of foreign trade is known by its initials as
A. SALT. B. GATT. C. START. D. IMF.