Autarkia imports oil and natural gas and exports food grains to the rest of the world. Based on this information, we can conclude that Autarkia is a(n) ________ economy
A) closed B) command C) open D) communist
C
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Which of the following is the best example of substitutes?
a. coffee and cream b. videotapes and VCRs c. money and biscuits d. tortillas and salsa e. hiking boots and athletic shoes
If the government chooses to finance its debt interest obligations by issuing bonds that are purchased by the Federal Reserve,
a. the money supply will remain the same because the Fed pays for the bonds by creating an equivalent deposit at the Treasury b. external debt will be decreased dramatically c. overconsumption will be halted d. the money supply will decrease, causing deflation e. the money supply will increase, causing inflation
Suppose that the country of Aquilonia has an inflation rate of about 6 percent per year and a real growth rate of about 3 percent per year. Suppose also that it has nominal GDP of about 500 billion units of currency and current nominal national debt of 100 billion units of domestic currency. Which of the following government spending and taxation figures will keep the debt to income ratio
constant? a. government spending equal to 50 billion units and tax collections equal to 48 billion units b. government spending equal to 50 billion units and tax collections equal to 41 billion units c. government spending equal to 50 billion units and tax collections equal to 40 billion units d. government spending equal to 50 billion units and tax collections equal to 32 billion units
Other things remaining the same, the ________ the real interest rate, the ________
A) higher; greater the demand for loanable funds B) higher; greater the quantity of loanable funds demanded C) lower; greater the quantity of loanable funds demanded D) lower; greater the demand for loanable funds E) lower; greater the quantity of loanable funds supplied