Which group believes that business cycles are unreal?
a. external cycle theorists
b. internal cycle theorists
c. real business cycle theorists
d. housing cycle theorists
e. innovation cycle theorists
C
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The balance of trade includes trade in
A) goods only. B) both goods and services. C) services only. D) neither goods nor services.
The goal of Medicare is to
A) help the poor and indigent pay their hospital bills. B) prevent poverty in urban cities. C) subsidize medical expenses for the elderly. D) subsidize costs incurred by doctors.
As a result of the recent financial crisis, some analysts believed that the MPC in the U.S. declined. If this is true, the value of the multiplier is now
a. smaller. b. larger. c. the same. d. magnified to a larger amount.
People sometimes worry that American trade with other countries will lead to large U.S. trade deficits and the movement of massive amounts of American capital out of the country. This worry is unfounded because countries cannot
A) increase savings at the same time that a trade deficit grows.
B) spend more than they earn.
C) invest more than they save.
D) have both current account and financial account deficits at the same time.
E) increase their trade with other countries without increasing their savings.