The fiscal policy of the United States is
A) summarized in the budget of the U.S. federal government.
B) the sum of the budgets of each state and municipality.
C) published in the Federal Reserve Bank's Annual Report.
D) announced by the President in his State of the Union message.
A
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If a game has a pure strategy Nash equilibrium then
A) it might also have a mixed strategy equilibrium. B) it does not have a mixed strategy equilibrium. C) at least one player has a dominant strategy. D) no player has a dominant strategy.
An ideal pollution control policy: a. would reduce pollution to zero
b. would reduce pollution to the socially efficient level. c. discourage firms from wasting time developing abatement technologies. d. reduce pollution as quickly as possible, regardless of the cost.
Scarcity:
a. allows businesses to take advantage of economies of scale. b. means that human wants for goods, services and resources exceed what is available. c. means that as the level of production increases, the average cost of producing each individual unit declines. d. only refers to resources, such as labor, tools, land, and raw materials.
The rate of inflation can be defined as
A) The percent change in the general price level. B) The change in the general price level. C) The percentage increase in the price of corn. D) The sustained percent change increase in the general price level.