With a surplus in our balance of payments, there is an excess __________ dollars in the foreign exchange market, causing the dollar to __________

Discretionary fiscal policy is handicapped by

A) lawmaking time lags, induced taxes, and automatic stabilizers. B) lawmaking time lags, estimation of potential GDP, and economic forecasting. C) economic forecasting, lawmaking time lags, and induced taxes. D) automatic stabilizers, lawmaking time lags, and potential GDP estimation. E) automatic stabilizers, the multipliers, and potential GDP estimation.

Markets can fail to achieve efficiency when

a. there are prices consumers do not think are fair. b. there are wages workers do not think are fair. c. trade puts people out of work. d. there are buyers or sellers without adequate information about the quality of goods.