10e_Test Bank_Chapter 31_Final

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1、File:Chapter31DeficitsandDebt:TheAusterityDebateTrue/False[QUESTION]1.Agovernmentbudgetdeficitoccurswhengovernmentrevenuesexceedgovernmentexpenditures.Ans:FalseAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:31-01Topic:DefiningDeficitsandSurplusesFeedback:

2、Agovernmentdeficitisashortfallofrevenuesrelativetoexpenditures.[QUESTION]2.Economistswhofocusonfiscalausterityfocusontheshort-run.Ans:FalseAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:31-01Topic:DefiningDeficitsandSurplusesFeedback:Economistswhofocusonf

3、iscalausterityfocusonthelong-runstabilityoftheeconomyandargueforlowerdeficits.[QUESTION]3.Inseveralyears,bondholdersmayloseconfidenceintheUnitedStateswillingnesstopaybackfunds.Ans:TrueAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:31-01Topic:DefiningDefic

4、itsandSurplusesFeedback:Thereisafearamongsomeeconomiststhatduetotrilliondollardeficits,theUnitedStateswillhavetopayhigherinterestratesinordertogetpeopletobuybonds.[QUESTION]4.EvidenceshowstheUnitedStatescancontinueitsexpansionaryfiscalpolicieswithoutcausinganewfinancialcrisis.Ans:Fa

5、lseAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:31-01©2017byMcGraw-HillEducation. Thisisproprietarymaterialsolelyforauthorizedinstructoruse.Notauthorizedforsaleordistributioninanymanner. Thisdocumentmaynotbecopied,scanned,duplicated,forwarded,distribute

6、d,orpostedonawebsite,inwholeorpart. Topic:DefiningDeficitsandSurplusesFeedback:AstheUnitedStatespayshigherinterestratesonbonds,itmayhavetorelymoreonlong-termbondswhichcouldpushuplongterminterestratesandhaveanegativeeffectontheeconomy.[QUESTION]5.Budgetdeficitscontributetohigherdebt.

7、Ans:TrueAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:31-01Topic:DefiningDeficitsandSurplusesFeedback:Debtisaccumulateddeficitsandsurpluses.Deficitsraisethedebtlevel.[QUESTION]6.Overthepastfiveyears,mostcountries’debt-to-GDPratioshaverisenasaresultoftheg

8、lobalrecession.Ans: