If the food stamp program in the United States moved from coupons redeemable for food to cash payments
A) everyone would buy less food and more of other goods.
B) everyone would buy more food and less of other goods.
C) some people might buy less food and obtain a higher level of utility.
D) some people might buy less food and obtain a lower level of utility.
C
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U.S. residents come to believe that the dollar will appreciate in the future, that is, the exchange rate in the future will be higher than the current exchange rate. As a result
A) the demand curve for dollars shifts rightward. B) the demand curve for dollars shifts leftward. C) there is a movement downward along the demand curve for dollars. D) None of the above answers are correct.
The highest component of GNP is
A) the current account. B) investment. C) government purchases. D) consumption. E) trade.
The current monetary system in the United States is
A) a mix of fiat money and exchange using transactions deposits at banks. B) a commodity money system. C) a gold standard. D) a commodity-backed fiat money system.
If the value of the multiplier is smaller, the economy
A. becomes less stable because automatic stabilizers have a larger impact. B. becomes more stable because automatic stabilizers have a larger impact. C. becomes more volatile because automatic stabilizers have a lesser impact. D. is subject to larger fluctuations because automatic stabilizers have no impact.