In 2012, the capital and financial account in the U.S. balance of payments was in:
A. deficit, and smaller than the current account deficit.
B. surplus, and equal to the current account deficit.
C. balance, with no deficit or surplus.
D. surplus, and smaller than the current account deficit.
B. surplus, and equal to the current account deficit.
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Public schools in the United States get most of their operating funds from
A) income taxes on corporate profits. B) tariffs collected on imported goods. C) local property taxes. D) government production and subsidies.
The Keynesian aggregate expenditures model assumes that:
a. production does not adjust to changes in aggregate expenditures. b. aggregate supply is autonomous. c. prices do not decrease when aggregate demand decreases. d. aggregate supply determines the equilibrium level of real GDP. e. prices are positively related to aggregate demand.