The full minutes of FOMC meetings are
A) released to the public immediately after the meeting.
B) released to the public only after the next meeting.
C) never released to the public.
D) always geared towards controlling inflation.
B
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In macroeconomics,
a. we study one market at a time b. we try to understand how the entire economy behaves c. we focus on large, important products and ignore the rest d. we study one nation's economy only e. we aggregate all national economies into a world economy
Below are pairs of GDP growth rates and unemployment rates. Economists would be shocked to see most of these pairs in the U.S. Which pair of GDP growth rates and unemployment rates is realistic?
a. 10 percent, 1 percent b. 2 percent, 12 percent c. -1 percent, 8 percent d. -2 percent, 2 percent
The primary function of taxes is to
A. Increase the purchasing power of the private sector. B. Increase private saving. C. Correct inequities in the distribution of goods and services. D. Transfer the command of resources from the private sector to the public sector.
A rational individual will never consume a unit of a good if its
A. marginal utility is negative. B. marginal utility is diminishing. C. marginal utility is increasing. D. marginal utility is greater than the price of the good.