Which of the following countries reported an inflation rate of over 2,000 percent per year during the late 1980s?
A. Russia
B. Argentina
C. Mexico
D. Turkey
Answer: B
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What does the phrase "Keynesian revolution" refer to?
What will be an ideal response?
Within the simple Keynesian model with lump-sum taxes, if the MPC (b) were 0.75 then if taxes rise by $200 then income
a. rises by $800. b. falls by $200. c. falls by $800. d. rises by $200. e. falls by $800.
Why do economists show little interest in how the benefits from an exchange are shared between the two parties?
The exchange rate effects of fiscal policy are:
A. ambiguous because the price and income effects goes against the interest rate effect. B. clear because the price and interest rate effects dominate the income effect. C. clear because the price and income effects dominate the interest rate effect. D. ambiguous because the price and interest rate effects goes against the income effect.