The New Deal
A. may be summarized by these words: relief, recovery, and reform.
B. introduced Medicare and Medicaid.
C. succeeded in quickly extending the Great Depression.
D. reduced the economic role of the federal government.
A. may be summarized by these words: relief, recovery, and reform.
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A decreased government deficit created by a lump-sum tax increase will increase national saving if
A) the value of government bonds outstanding grows slower than the public's wealth. B) it causes consumption to fall. C) the government runs a primary surplus as a result. D) the real interest rate is less than the growth rate of real GNP.
If the interest rate is 7 percent on euro-denominated assets and 5 percent on dollar-denominated assets, and if the dollar is expected to appreciate at a 4 percent rate, the expected return on ________-denominated assets in terms of ________ percent
A) dollar; euros is 3 B) euro; dollars is 1 C) dollar; euros is 9 D) euro; dollars is 11
If the Gini co-efficient for an economy is 0.85, which of the following statements is true?
a. The national income of this economy is more or less equally distributed. b. The Lorenz curve for the economy will bow above the line of perfect equality. c. The Lorenz curve for the economy will coincide with the line of perfect equality. d. The Lorenz curve for the economy will bow down below the line of perfect equality. e. The Lorenz curve for the economy will be a rectangle.
If a technological breakthrough reduces input quantities needed to produce some item,
A. cost of production will be increased. B. the price of the product will rise. C. the price of the product will fall. D. quantity demanded of the product will fall.