In 1971, President Richard Nixon announced a 90-day freeze on wage and price increases in order stabilize prices.
Answer the following statement true (T) or false (F)
True
This is an example of the federal government exercising direct control over the economy.
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If Ford sells 200 Explorers for a total of $400,000 to Germany, while the United States imports 100 BMWs for a total of $500,000 from Germany
A) U.S. GDP increases because it sells more Explorers. B) U.S. GDP decreases because net exports are negative. C) Germany's GDP decreases. D) U.S. net exports is positive.
To sell more units, a monopolist must
A) merely produce more units. B) advertise more. C) produce the profit maximizing rate of production. D) lower price.
The intent of contractionary fiscal policy is to
A. increase aggregate demand. B. decrease aggregate demand. C. decrease aggregate supply. D. increase aggregate supply.
Which of the following actions by the Fed most likely increase commercial bank lending?
A. Raising the reserve ratio. B. Increasing the federal funds rate target. C. Reducing the interest paid on reserves held at the Fed. D. Selling bonds to commercial banks and the public.