After experiencing its first budget surplus in 30 years in 1998, for how many consecutive years following that did the budget remain in a surplus state?

If employers were required by law to increase the wages paid to secretaries by 40 percent, which consequence could we most confidently predict?

A) More secretaries would be employed. B) Secretaries would begin to earn more than they are worth to their employers. C) The marginal value of secretaries would increase by about 40 percent. D) The total amount of wages paid to secretaries would decrease. E) The total amount of wages paid to secretaries would increase.

Keynes' speculative demand for money arises because

A) individuals are continually trying to maximize their wealth and income. B) money is necessary to finance transactions. C) there are costs to switching between money and interest-earning assets. D) capital gains on bonds held can be made when interest rates are rising.