The budget deficit/surplus projections for 2005 that were made in 2001 were wrong, because there was an
A. anticipated increase in immigration.
B. anticipated increase in defense spending.
C. unanticipated increase in interest rates.
D. unanticipated increase in war-related spending.
Answer: D
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A decrease in the number of firms in a market will cause supply to increase
Indicate whether the statement is true or false
Which of the following is NOT a result of a permanent fall in foreign demand on one country's exports under floating exchange rate?
A) The DD curve shifts to the left due to reduction of aggregate demand. B) The AA curve shifts upwards due to the increased expected long-run exchange rate. C) a reduction in output by a smaller degree compared to temporary fall in demand D) depreciation in home country's currency E) a raised level of unemployment
A person is dynamically consistent if:
A. his preferences over the alternatives available at some future date change as the date approaches. B. his preferences over the alternatives available at some future date do not change as the date approaches. C. he is also statically consistent. D. None of these is correct.
A local park filled with picnickers is
a. excludable and rival in consumption. b. excludable and not rival in consumption. c. not excludable and rival in consumption. d. not excludable and not rival in consumption.