Government deficits tend to increase during
A) periods of war and recession. B) periods of below- or above-average growth.
C) periods of increased financial uncertainty. D) recessions and booms.
A
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As market integration and symmetry between the nations' economies rise, the:
A) net benefits of a currency union fall. B) OCA becomes less desirable for each nation. C) political costs of a currency union rise. D) net benefits of a currency union rise.
Because leisure is a normal good, an increase in income
a. decreases the demand for leisure time and reduces the amount of time allocated to market work b. decreases the demand for leisure time and increases the amount of time allocated to market work and/or nonmarket work c. increases the demand for leisure time and reduces the amount of time allocated to market work and nonmarket work d. increases the demand for leisure time and increases the amount of time allocated to market work and nonmarket work e. has no impact on the demand for leisure time