In a nation with flexible exchange rates, assume there is a fiscal expansion (G̅ up and/or T̅ down) and offsetting monetary policy (that is, monetary contraction). We expect stable output, lower inflation, lower real interest rates, higher investment, and a stronger currency.

A balanced budget rule (so long as it corrected for cyclical factors) would be a good thing.

Assume adaptive expectations. To end an inflation, a central bank should

The multiplier on government expenditures is smaller if some portion of increases in income increase imports (that is, reduce next exports, NX). 

Taxes imposed on the sale of alcohol and tobacco and on some forms of gambling, and fees imposed on “sexually oriented” businesses, are called

Which agency is in charge of operations and maintenance of the state’s massive 80,000-mile highway system, in addition to overseeing aviation, railroads, and other public transportation systems in the state?

Which member of the plural executive is the state’s lawyer, defending the laws and constitution of the State of Texas by representing it in court?

Which member of the plural executive implements agricultural laws, promotes Texas’s agriculture production, and products and administers school nutrition programs?

The lieutenant governor serves as the _______________________________ of the Texas Senate, meaning that he or she is in charge of the administrative and procedural duties of the chamber.

Which of the following is a legislative power of the governor?