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True or False
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1
The most common way for government to fund expansionary fiscal policy is by borrowing from the general public.
A)True
B)False
2
Monetary policy cannot be used effectively when a country has a fixed exchange rate.
A)True
B)False
3
Expansionary fiscal policy may crowd out both private investment and export spending.
A)True
B)False
4
Aggregate demand policies are effective in curing the problems of stagflation.
A)True
B)False
5
The Phillips curve is based on the relationship between tax rates and the amount of tax revenue.
A)True
B)False
6
One of the major criticisms of the supply-side emphasis on tax cuts as a way to stimulate the economy is that such cuts affect aggregate demand more than they do aggregate supply.
A)True
B)False
7
The Laffer curve relates income levels with unemployment rates.
A)True
B)False
8
The rise of supply-side economics is rooted in the stagflation of the 1970s.
A)True
B)False
9
The Canadian dollar has not fallen below $0.80 U.S. for over twenty years.
A)True
B)False
10
Deflation means that the rate of inflation is falling.
A)True
B)False





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