In the US we expect that during recessions
a. govt spending will increase
b. tax revenues will decrease
c. the federal budget will have a deficit
d. all
Ans: d. all
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Which of the following graphs or charts must add up to one hundred percent?
a. a labor graph b. a pie chart c. a time-series graph d. a scatter diagram
The federal government subsidizes higher education
A. less than primary and secondary education. B. more than primary and secondary education. C. about the same as primary and secondary education. D. because it does not subsidize primary and secondary education.
Which of these is NOT one of the issues that makes it difficult for the Fed to choose the right course of action at the right time?
A. The Fed's incomplete and imperfect control of the money supply B. The quality of the data the Fed uses C. The time that it takes for the Fed to decide on a course of action D. The time it takes for Fed action to have an impact
In a market system, the distribution of goods and services among consumers is largely determined by:
A. The willingness and ability of consumers to pay the prices B. Whoever needs the goods and services the most C. Whoever has the closest connection to firms and the government D. A random factor that is almost impossible to predict