Arguments for the balanced budget amendment include all of the following EXCEPT
A) a balanced budget amendment would limit Congress from using fiscal policy during a recession.
B) a balanced budget amendment would increase capital formation.
C) a balanced budget amendment would reduce the taxation burden on future generations.
D) a balanced budget amendment would exert fiscal discipline on the federal government.
A
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Country X exports 10 million tonnes of wheat to Country Y. Which of the following will happen in this case?
A) Country X's GNP will decrease. B) Country Y's GNP will increase. C) Country Y's GDP will increase. D) Country X's GDP will increase.
The quantity theory asserts that real GDP is
A) not influenced by the quantity of money. B) never different from potential GDP. C) equal to nominal GDP multiplied by the quantity of money. D) equal to nominal GDP divided by the quantity of money.