Which of the following will decrease if the Fed sells bonds?
a. autonomous consumption.
b. business investment.
c. real GDP.
d. none of the above.
D
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The Lithuanian tax rate for all citizens' income is 24 percent and in Estonia, the tax rate is 21 percent. Lithuanian and Estonian income tax systems are examples of ________ taxes
A) proportional B) progressive C) regressive D) equality
The key assumption of the Romer model that allows an explanation of sustained growth in output per person is ________
A) technology is nonrivalrous B) the total amount of labor is fixed C) some labor is devoted to producing new technology D) the saving rate is fixed
Selling a good abroad below the price charged in the home market, or at a price below the cost of production is called
A) dumping. B) import substitution. C) a quota. D) a tariff.
When firms are neither entering nor exiting a perfectly competitive market,
a. total revenue must equal total variable cost for each firm. b. economic profits must be zero. c. price must equal average variable cost for each firm. d. Both a and c are correct.