Government purchases are defined as
A) only goods purchased by federal, state, or local governments.
B) all goods and services purchased by the federal government.
C) all goods and services purchased by the federal or state government.
D) all goods and services purchased by the federal, state, or local government.
E) goods and services purchased from the government.
D
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When a foreign investor buys a bond issued in the United States,
A) the balance on the financial account increases. B) the balance of trade increases. C) the balance on the current account increases. D) the balance on the capital account increases.
Keynesian picture the aggregate demand curve as rather __________, partly because interest rates may be __________ to changes in the real money supply
A) flat; highly responsive B) flat; quite unresponsive C) steep; highly responsive D) steep; quite unresponsive