The prime rate is a lagging indicator
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose a local photographer increases his prices by 8 percent and quantity demanded decreases by the same percentage. This set of facts indicates that the demand for his services is
A) inelastic. B) elastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.
A one-year discount bond with a face value of $1000 has an interest rate of 4%. What is its price?
A) $960 B) $961.54 C) $996 D) $1,040
An increase in taxes on labor earnings, everything else equal
a. shifts the labor supply curve to the left and increases the real wage. b. shifts the labor supply curve to the right and increases the real wage. c. shifts the labor supply curve to the right and reduces the real wage. d. shifts the labor supply curve to the left and reduces the real wage.
Starting with a situation where there is a substantial budget deficit, when tax revenues grow faster than federal expenditures, the government will experience:
a. a balanced budget. b. an increasing national debt. c. a declining budget surplus. d. a declining budget deficit. e. an increasing budget deficit.