In its most basic form, globalization has existed ever since:
a. the creation of the Internet, which enables people to sell their products overseas.
b. the end of World War II.
c. the creation of the International Monetary Fund (IMF), which establishes the rules for all countries to follow as they trade.
d. the fall of the Berlin wall which marked the end of communism and thus, the beginning of truly "global" times.
e. primitive societies began to engage in trade.
e
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If the MPC is 0.75, the multiplier will be:
A. 2 B. 3 C. 3.5 D. 4
As the economy expands, tax revenues
A. rise and transfer payments rise, causing the economy to expand by more than it would in the absence of automatic stabilizers. B. fall and transfer payments rise, causing the economy to expand by less than it would in the absence of automatic stabilizers. C. rise and transfer payments fall, causing the economy to expand by less than it would in the absence of automatic stabilizers. D. fall and transfer payments fall, causing the economy to expand by more than it would in the absence of automatic stabilizers.