Transfer payments refer to payments from the government to ________
A) other government agencies
B) distribute state taxes collected by the government to individual states
C) reimburse property taxes paid by states for government property leases
D) certain individuals or groups
D
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Keynesian theory became important when classical economic theory did not adequately explain a prolonged period of:
A. Inflation with low unemployment. B. Inflation with high unemployment. C. Deflation with low unemployment. D. Deflation with high unemployment.
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
Referring to Figure 18.2, U.S. goods will become cheaper in Mexico if the exchange rate goes from ________ to ________ pesos to the dollar.
A. 12; 11 B. 12; 13 C. 11; 13 D. 10; 14
All else being equal, increased U.S. exports to nations in the European Union create a:
A. Demand for euros B. Supply of euros C. Shortage of euros D. Surplus of euros