The public sector of the U.S. economy includes:
a. the federal, state, and local government.
b. multinational corporations and the federal government.
c. the Federal Reserve bank of the U.S.
d. the judiciary and the federal government.
e. households.
a
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Refer to Figure 19-11. The graph above depicts supply and demand for British pounds during a trading day. At a fixed exchange rate of $2.00 per pound, the pound is ________ versus the dollar
A ________ of the pound would correct the fundamental disequilibrium that exists in this market. A) overvalued; devaluation B) overvalued; revaluation C) undervalued; devaluation D) undervalued; revaluation
A decrease in the price level in the United States will have what effect on the aggregate expenditure line?
A) Aggregate expenditure will shift downward. B) Aggregate expenditure will shift upward. C) Aggregate expenditure will become steeper. D) Aggregate expenditure will not be affected by a decrease in the price level in the United States.
Which of the following is TRUE of incentives?
A) Different people are motivated by different incentives. B) Money is the only measure of incentives. C) All of the people in a particular nation are motivated by the same incentives. D) In economics, people are assumed to respond to disincentives instead of incentives.
A market that experiences both strikes and lockouts at different times is most likely characterized by
A. Monopsony. B. Monopoly. C. Bilateral monopoly. D. Monopolistic competition.