Which of the following situations would be inconsistent with the others?
A) A deficit in the current account
B) gross national expenditure being greater than gross national disposable income
C) Net lending to the rest of the world
D) A surplus in the financial account and capital account
Ans: C) Net lending to the rest of the world
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Keynes believed that an important source of instability in the economy was instability
a. of private investment demand. b. in the marginal propensity to consume (b). c. of expectations. d. in tax collections. e. Both a and c
The scientific method is:
A. not applicable to economics because economics deals with human beings. B. also known as the economic perspective. C. analysis that moves from broad generalizations called laws to theories and then to hypotheses. D. used by economists and other social scientists, as well as by physical scientists and life scientists, to formulate and test hypotheses.