During George W. Bush's presidency
A. the job market was quite robust.
B. The United States' federal budget deficit hit a record high.
C. the federal budget surpluses in the last years of the Clinton presidency continued.
D. we experienced a very high inflation rate.
B. The United States' federal budget deficit hit a record high.
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A commercial bank's reserves are
A) bonds issued by the U.S. government that are very safe. B) the provision of funds to businesses and individuals. C) currency in its vault plus the balance on its reserve account at a Federal Reserve Bank. D) savings and time deposits. E) its loans.
Which of the following is NOT a requirement for a firm to be able to price discriminate?
A) monopoly power B) groups of customers with different willingness to pay for the good C) economies of scale D) ability to keep the members of different customer groups separate E) ability to prevent resales of the product by customers
When two _____ monopolists merge, one division of the newly merged company will transfer its output to another division at its actual cost, instead of its profit maximizing price
a. price discriminating b. natural c. output rationing d. successive
The theory of liquidity preference illustrates the principle that
a. monetary policy can be described either in terms of the money supply or in terms of the interest rate. b. monetary policy can be described either in terms of the exchange rate or the interest rate. c. monetary policy must be described in terms of the money supply. d. monetary policy must be described in terms of the interest rate.