The total amount of money that a government owes at a point in time is called:
A. a budget deficit.
B. a budget surplus.
C. public debt.
D. national surplus.
A. a budget deficit.
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In the Monetarist model,
a. monetary policy and not fiscal policy is the prime factor in aggregate demand movements. b. money demand is more volatile than in the Keynesian model. c. expectations are correct on average. d. aggregate supply is not the primary source of business cycles. e. both a and b.
If Canada began to export maple syrup to Australia, which of the following will happen?
a. The price of maple syrup in Australia will increase and Australian consumers will be made worse off. b. The price of maple syrup in Australia will decrease and the Australian consumers will be made better off. c. The price of maple syrup in Canada will decrease and the Canadian consumers will be made better off. d. The price of maple syrup in Canada will increase and the Canadian consumer will be made worse off. e. The price of maple syrup in Canada will decrease and the Canadian consumer will be made worse off.
The GDP of Country A is equal to $124.5 billion, and the consumption expenditure in the economy is $85.9 billion. The government of Country A charges a flat tax of 20 percent. The government also spends $4.5 billion per year in the form of transfer payments. The disposable income of the country is equal to: a. $99.6 billion
b. $104.1 billion. c. $124.5 billion. d. $129.0 billion.
If consumption is $30,000 when income is $35,000, and consumption increases to $36,000 when income increases to $43,000, the MPC is
A. 0.65. B. 0.75. C. 0.80. D. 0.95.