Those who favor government policies to stimulate the economy by creating incentives for individuals and businesses to increase their productive efforts are supporting:
A. supply-side economics.
B. Keynesian economics.
C. monetarist economics.
D. Marxian economics.
Answer: A
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The government debt is defined as
A) the excess of total revenues over total expenditures. B) the sum of all past deficits and surpluses. C) the excess of total expenditures over total revenues. D) government spending on goods and services plus transfer payments.
If the stock of capital of a nation is ________ while the population ________, the nation can produce more output, but output per worker falls
A) fixed; remains stable B) fixed; decreases C) declining; decreases D) fixed; increases
As a price change persists over a long period of time, we should expect the demand elasticity to fall.
Answer the following statement true (T) or false (F)
If the dollar rose by 35% relative to other currencies, our current account deficit would
A. rise sharply. B. rise slightly. C. not be affected. D. fall slightly.