When we say the U.S. economy has grown on average at 2.1%, we mean
A) the inflation rate.
B) the growth rate of nominal GDP.
C) the growth rate of per-capita nominal GDP.
D) the growth rate of per-capita real GDP.
D
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When the Fed increased the volume of discount loans after the terrorist attacks of September 11, 2001, it was trying to achieve
The government budget constraint tells us that to the extent that government expenditures are NOT financed by tax collection, the public ends up holding ________ government bonds and ________ money
A) more, more B) more, less C) fewer, more D) fewer, less
Which of the following is a regressive tax?
a. A state tax of 5 percent of income. b. A local sales tax of 5 percent. c. The federal individual income tax. d. A federal flat tax of 30 percent.
Assume a simplified banking system subject to a 25 percent required reserve ratio. If there is an initial increase in excess reserves of $100,000 . the money supply:
a. increases $100,000 b. increases $400,000. c. increases $125,000 d. decreases $500,000.