Question

1. If Californians increase their purchases of Italian wine, assuming all else remains constant, this will

________ of the United States.

A. decrease the balance of trade

B. increase the current account balance

C. decrease the balance of payments

D. increase net exports

E. decrease the trade deficit

The increase in the amount that the government collects in taxes when the economy expands and the decrease in the amount that the government collects in taxes when the economy goes into a recession is an example of

A. discretionary fiscal policy.

B. automatic stabilizers.

C. automatic monetary policy.

D. discretionary monetary policy.

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