1. Indicate that, when a country decides to privatize pensions ans state-owned enterprises, it is likely following the:

a) Golden Straightjacket b) The washinggton Consensus c) National interest argument d) Infant industry argument e) A and B

2. As a percent of total federal outlays, interest payments on the national debt from 1950 to the present peaked:

a) During the Carter presidency b) During the Reagan presidency c) During the Clinton presidency d) During the Obama presidency

3. Mandated balanced budgets for states and local governments:

a) Provide outomatic countercyclical fiscal policy b) Enhance the ability to conduct fiscal policy during recessions c) Act as automatic destabilizers d) Prevent the establishment of progressive tax structures.