11. Neoliberal economic policymakers agree with the view that

Universal income transfers raise living standards and taxes have few disincentive effects

Budget deficits cause crowding out near full employment

There must always be expansionary policies to prevent recessions

The costs of higher inflation are less than the costs of higher unemployment

12. Based on recent forecasts, over the next decade it is expected that:

Trade deficit will decline by at least 50 percent

The unemployment rate will exceed 15 percent

The debt/GDP ratio will be higher than 100 percent

Inflation will rise to greater than 10 percent