We refer to the whole class of goods that firms will ________ in a completely unregulated market economy as public goods.

An issue that proposals for international reform agree on is that

A) the IMF should intervene more in financial crises. B) there must be a lender of last resort. C) IMF quotas are currently set at an appropriate level. D) the Basel capital requirements for banks should be increased.

A major problem with the implementation of an annually balanced budget is that it: a. allows the national debt to burgeon with chronic deficits

b. relies upon government officials to budget for surpluses during economic booms in order to cover deficits during recessions. c. requires annual revenues to match with outlays even during times of war, when there is a sudden increase in military expenditures. d. magnifies the fluctuations in the business cycle. e. dampens swings in the business cycle.