Small-denomination time deposits are included in:
A. checking accounts.
B. currency.
C. M1.
D. M2.
Answer: D
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
People who live in countries with ________ average incomes generally live ________ lives.
A. higher; shorter B. higher; more meaningful C. lower; longer D. lower; shorter
One of the key income tax topics debated during the 2008 Presidential election was whether the
A. 1986 tax increases should be repealed in 2011. B. Iraqi oil revenues should be taxed by the U.S. to provide care for disabled Iraqi War veterans. C. 2003 tax cuts should be allowed to expire in 2011. D. national sales tax should be abolished and replaced with a single income tax rate of 21%.
What does the Law of Diminishing Marginal Product state?
What will be an ideal response?