Refer to the given data. The amount of output being forgone by the economy is:
Answer the question on the basis of the following information for a specific year in a
hypothetical economy for which Okun's law is applicable:
A. $12 billion.
B. $15 billion.
C. $18 billion.
D. $24 billion.
D. $24 billion.
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The United States possesses a large amount of human capital. As a result of this fact, in the United States there is a
A) large amount of machinery and equipment. B) large number of people and a great deal of land. C) highly skilled and educated labor force. D) large number of kind and generous humans. E) large amount of machinery (capital) that is run by people (humans).
An individual who acquires a bond from a corporation
A. lends money to the corporation. B. borrows money from the corporation. C. buys part of the corporation. D. promises to pay part of any debts of the corporation.
When the government levies a tax that is the same fixed percentage of people's incomes, this tax is known as a(n)
a. regressive tax b. progressive tax c. proportional tax d. excise tax e. a unit tax
Open-market operations refer to:
A. purchases of stocks in the New York Stock Exchange. B. the purchase or sale of government securities by the Fed. C. central bank lending to commercial banks. D. the specifying of loan maximums on stock purchases.