In 1913, Congress established the Federal Reserve system with the intention of putting an end to
A) high unemployment rates. B) bank panics.
C) high interest rates. D) inflation.
B
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(Appendix) In the production function Q = 10L1/2K1/2, if the inputs are quadrupled, are there economies of scale? 
.
What will be an ideal response?
The ______ is a theory describing how a budget deficit reduces investment spending and long-term economic growth.
a. Fannie Mae effect b. upside down effect c. Dodd-Frank effect d. crowding-out effect
One of the potential problems with the public debt is that it may:
A. make income distribution more equitable. B. lead to added taxes that reduce economic incentives. C. decrease interest rates and increase investment spending. D. increase the debt burden of foreign creditors.
An effective price ceiling will be set above the equilibrium price.
Answer the following statement true (T) or false (F)