Which of the following is TRUE of the Federal Reserve System? I. It was established in the early 1980s. II. It serves as the central bank of the United States
A) I only
B) II only
C) Both I and II
D) Neither I nor II
B
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A typical American family sends about _____ percent of its budget on services.
A. 20 B. 32 C. 66 D. 70
In the short run, a perfectly competitive firm can make a profit, a loss, or go out of business.
Answer the following statement true (T) or false (F)
According to the rule of 72, if you have $15,000 in an account that grows at the rate of 12 percent annually, it will take approximately six years for the $15,000 to double to $30,000
a. True b. False Indicate whether the statement is true or false
Which of the following attributes of the recession of 2008-2009 is most supportive of the Keynesian view that the crowding-out effect will be minimal during a severe recession?
a. the immediate increase in output and employment generated by the budget deficits of 2008-2009 b. the decline in the general level of prices during 2009 c. short-term interest rates falling to near zero, despite growing budget deficits during 2008-2009 d. short-term interest rates falling to near zero, as the budget deficit declined during 2008-2009