Of the three levels of government in the United States,
a. only the federal government provides public goods
b. only the federal government has the power to tax
c. local governments are primarily responsible for primary and secondary education
d. the federal government is primarily responsible for higher education
e. state governments are primarily responsible for economic stability
C
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Refer to the above table. The current account balance is
A) $140. B) $155. C) $170. D) -$45.
Society's resources include
a. land and labor b. labor and machinery c. land, labor, and capital d. land, capital, and money e. labor, capital, and money
The existence of positive externalities indicates that price is too low
Indicate whether the statement is true or false
Which of the following will NOT happen when the Federal Reserve buys bonds from the public in the open market and cash in the hands of the public does not change?
A. The required reserve ratio will increase. B. The money supply will increase. C. The deposits of commercial banks will increase. D. Commercial bank reserves will increase.