When the price of a bond is above the equilibrium price, there is an excess ________ bonds and price will ________
A) demand for; rise
B) demand for; fall
C) supply of; fall
D) supply of; rise
C
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A small country is an international borrower and its domestic supply of loanable funds increases. Consequently, the equilibrium quantity of loanable funds used in the country ________ and the country's international borrowing ________
A) does not change; decreases B) does not change; does not change C) does not change; increases D) increases; does not change
A contractionary monetary policy can reduce real GDP if expectations are formed rationally and monetary policy is
A) combined with expansionary fiscal policy. B) carried out in total secrecy. C) publicly announced and credible. D) combined with contractionary fiscal policy.
The efficacy of tax incentives as an instrument of activist fiscal policy
A) has been proven to be very substantial in the view of most economists. B) is not plagued by a substantial lag between the passage of tax legislation and the resulting investment spending. C) is subject to debate but still is limited by the "legislative lag." D) has been proven to be so limited that it is no longer considered to be a serious option by most economists.
In 2010, the poorest 20 percent of families in the United States population earned approximately ____ percent of the before-tax total income. (Fill in the blank.)
a. 1 b. 4 c. 9 d. 12