The table above gives a nation's government outlays and tax revenues for 2012 through 2016. During which years did the country have a budget surplus?
A. 2012 and 2013
B. 2016 only
C. 2015 only
D. 2014 and 2016
E. all except 2015
Answer: A. 2012 and 2013
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Refer to Table 2-8. What is Betty's opportunity cost of making a statue?
A) 2 benches B) 1.4 statues C) 1/2 of a bench D) 1/3 of a bench
When positive spending shocks occur, transfer payments automatically fall
a. True b. False
The money multiplier yielded by the deposit creation formula assumes that
a. banks hold no excess reserves. b. banks hold excess reserves. c. recipients of loans take some of the proceeds in cash. d. recipients of loans do not redeposit their funds in other banks.
Who of the following would be counted as unemployed in Canada?
A) Sharon is a college student with no job. B) Doris only works five hours a week but is looking for a full-time job. C) Maurice has been laid off from his job for 20 weeks but expects to be called back soon. D) Bogdan has been laid off from his job but does not expect to be called back, and is not looking. E) Kanhaya has stopped looking for work since he was unable to find a suitable job during a two -month search.