69, National defense, police and fire protection and parks are all examples of _______________.

1. externalities
2. public goods and services
3. private goods and services

A. III

B. II

C. I and III

D. I and II

70.Contractionary fiscal policy : _______________ :: Expansionary fiscal policy : _______________

A. supply-side, demand-side

B. deficit budget, surplus budget

C. surplus budget, deficit budget

D. demand-side, supply-side

67.If a nation is actively engaged in international trade with a trade deficit, which of the following is true at this time?

A. The nation would choose to import only those things it cannot produce.

B. Domestic prices of exports are low while import prices are high.

C. The nation's dollar is strong causing export prices to be high and import prices to be low.

D. The nation's dollar is weak versus other nation's currencies.

57.All of the following are tools of supply-side economicsEXCEPT_______________.

A. cutting spending for government, social and regulatory programs

B. deregulating key industries

C. increasing government spending on social programs

D. cutting personal and business taxes