Eco 305 Wk 11 Quiz 10 - Chapters 16 & 17 - All Possible Question

ECO 305 WK 11 Quiz 10 - Chapters 16 & 17 - All Possible Question

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ECO 305 WK 11 Quiz 10 - Chapters 16 & 17 - All Possible Question

MULTIPLE CHOICE

1. A nation experiences internal balance if it achieves:

a. Full employment

b. Price stability

c. Full employment and price stability

d. Unemployment and price instability

2. A nation experiences external balance if it achieves:

a. No net changes in its international gold stocks

b. Productivity levels equal to those of its trading partners

c. An increase in its money supply equal to increases overseas

d. Equilibrium in its balance of payments

3. A nation experiences overall balance if it achieves:

a. Balance-of-payments equilibrium, full employment, and price stability

b. Balance-of-payments equilibrium, maximum productivity, and price stability

c. Full employment, price stability and no change in its money supply

d. Full employment, price stability, and maximum productivity

4. Most industrial countries generally considered ____ as the most important economic goal.

a. External balance

b. Internal balance

c. Maximum efficiency for business

d. Maximum efficiency for labor

5. Which policies are expenditure-changing policies?

a. Currency devaluation and revaluation

b. Import quotas and tariffs

c. Monetary and fiscal policy

d. Wage and price controls

6. Which policy is an expenditure-switching policy?

a. Increase in the money supply

b. Decrease in government expenditures

c. Increase in business and household taxes

d. Decrease in import tariffs

7. An expenditure-increasing policy would consist of an increase in:

a. Import tariffs

b. Import quotas

c. Governmental taxes

d. The money supply

8. An expenditure-reducing policy would consist of a decrease in:

a. The par value of a currency

b. Government expenditures

c. Import duties

d....