A government budget surplus occurs during a budget year when
A) tax revenues = government spending.
B) tax revenues + government spending = personal income.
C) tax revenues > government spending.
D) tax revenues < government spending.
C
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Which of the expenditure components of GDP can be negative?
A. Net exports are negative when imports exceed exports B. Consumption spending on durables C. Consumption spending on services D. Net exports
In the above figure, suppose the economy is initially on the demand for money curve MD1. What is the effect of a rise in the nominal interest rate?
A) The demand for money curve would shift rightward to MD2. B) The demand for money curve would shift leftward to MD0. C) There would be a movement upward along the demand for money curve MD1. D) There would be a movement downward along the demand for money curve MD1.
By definition, M1 includes:
a. savings accounts. b. money market mutual accounts. c. small denomination time deposits. d. checkable deposits.
M2 money includes all but which one of the following?
a. Checkable deposits. b. Savings accounts. c. Large repurchase agreements. d. Money market mutual accounts. e. Small time deposits.