Economics is the study of how people
a. vote for political leaders who decide what is to be produced
b. make choices to produce and consume goods and services
c. create social institutions that maximize economic well-being
d. develop value systems that affect their consumption choices
e. form customs and traditions that influence consumption
B
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When the Fed sells short-term bonds and buys long-term bonds, it is engaging in
A) changing the discount rate. B) forward guidance. C) backward guidance. D) a maturity extension program.
The primary source of revenue for the federal government of the United States are taxes tied to ________
A) property values B) rents and dividends C) export and import flows D) income
With regard to the American Revolution, research suggests that
(a) it was not waged against the law but against a particular alien authority. (b) all contracts, respecting property, remained basically unchanged. (c) the basic ideas established in the colonial era remained untouched by the Revolution, apart from the abolition of primogeniture and perpetual entailment. (d) all of the above are true.
Government regulations can create de facto monopoly results
a. True b. False