Decisions to cut taxes are made by ________ and are an example of ________ policy.
A. the Federal Reserve; fiscal
B. Congress; fiscal
C. Congress; monetary
D. the President; monetary
Answer: B
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Economic growth is measured by
A) increases in the population. B) increases in GDP. C) increases in per capita real GDP. D) increases in the value of the total output of society.
Who did President Jimmy Carter appoint to head the Federal Reserve beginning in 1979?
a. Ben Bernanke b. Alan Greenspan c. Paul Volcker d. Arthur Burns
When equilibrium GDP is below potential GDP, jobs are plentiful and unemployment is low.
Answer the following statement true (T) or false (F)
In 1914, the United States Congress
A. created the Per Se Rule. B. passed the Sherman Antitrust Act. C. passed the Rule of Reason Act. D. created the Federal Trade Commission.