Which of the following is not true about The American Recovery and Reinvestment Act of 2009:
A. it is more commonly known as the "stimulus plan."
B. it Increased government spending.
C. it included tax cuts.
D. It privatized social security system.
D. It privatized social security system.
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High-powered money is
A) total deposits received by banks within the system. B) reserves held by banks to meet withdrawals. C) deposits divided by the reserve holding ratio. D) the reserve holding ratio divided by the level of deposits.
Which statement best characterizes the second-best policy offered by a monopoly insurer when it can't observe the consumer's risk?
a. It is a single contract offering partial insurance at an intermediate price such that all types are served. b. It is a menu of contracts providing full insurance for the least risky types and partial insurance for higher risks. c. It is a menu of contracts providing full insurance for the riskiest type and partial insurance at lower prices for lower risks. d. The market breaks down since the monopolist cannot design contracts without observing each consumer's risk.
The value of a loan of $50,000 after a year at 2 percent interest is:
A. $1,000. B. $52,000. C. $49,000. D. None of these is true.
According to classical economics:
a. real GDP is determined by aggregate demand, while the equilibrium price level is determined by aggregate supply. b. both real GDP and price level are determined by aggregate demand. c. both real GDP and price level are determined by aggregate supply. d. real GDP is determined by aggregate supply, while the equilibrium price level is determined by aggregate demand. e. price level cannot be changed as prices and wages are perfectly rigid.