The branch of economics which studies the behavior of entire economies and policies that affect the economy as a whole is called

In recent years, a monetary growth rule has fallen out of favor because

A) it is believed that active monetary policy destabilizes the economy and makes the business cycle worse. B) the growth rate of GDP has been highly unstable. C) the close relationship between movements in M1 and movements in real GDP has become weaker. D) the growth rate of M1 has become more stable.

The summary of the flows of goods, services, assets, and currency in and out of a country in a particular year is

A. the balance of income statement. B. the balance of payments. C. the balance of trade. D. the trade deficit.