In 2012, direct government purchases equaled ________ percent of expenditures of all levels of government
A) 71
B) 42
C) 26
D) 55
B
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The tools of monetary policy are
A) government spending, tax rates, and the required reserve ratio. B) open market operations, differential between the discount rate and the federal funds rate, and the required reserve ratio. C) open market operations, differential between the discount rate and the federal funds rate, and tax rates. D) open market operations, government spending, and the required reserve ratio.
Use the information below to explain adjustments that move the economy to a long-run equilibrium. Assume that firms and workers have adaptive expectations
The current unemployment rate = 7%. The natural rate of unemployment = 5.5%. Last year's inflation rate = 5%. This year's inflation rate = 4%.
Which of the following is an example of a perfectly competitive industry?
a. Automobile b. Advertising c. Commodity d. Pharmaceutical
Charles Murray believed that the antipoverty programs of the 1960s and 1970s
A. drastically reduced the level of poverty. B. slightly reduced the level of poverty. C. had no impact on the level of poverty. D. caused more poverty.