When the external balance relationship between government spending and money stock is positive, then the
A) internal balance between them must be negative.
B) internal balance between them might be negative or positive.
C) internal balance between them must also be positive.
D) internal balance between them would not exist.
A
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Americans viewed the 12 percent mortgage interest rates of the 1980s as exorbitantly high while they considered the 7 percent mortgage interest rates of the late 1990s as reasonable. This represents a confusion of
a. actual and expected inflation. b. real versus nominal inflation. c. real versus expected mortgage payments. d. real versus nominal interest rates.
A point on a production possibilities curve indicates
A) resources are not being used efficiently. B) resources are being used efficiently. C) opportunity costs are constant. D) an output combination that can be attained only if society gets more resources or there is technological change.