Over the past seventy-five years, power within the Federal Reserve has shifted from
A) the Federal Reserve Banks to the Board of Governors in Washington.
B) the Board of Governors to the Federal Reserve Bank of New York.
C) domestic Federal Reserve banks to foreign Federal Reserve banks.
D) the Federal Reserve Bank of New York to the Federal Reserve Bank of Dallas.
A
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The standard view in economics is that tax cuts without ________ will ________ the budget deficit resulting in ________
A) increasing spending; decrease; unemployment B) spending cuts; decrease; unemployment C) increasing spending; increase; crowding out investment D) spending cuts; decrease; crowding out investment E) spending cuts; increase; crowding out investment
Critics of Keynesian theory object to its apparent endorsement of government growth.
Answer the following statement true (T) or false (F)
The average fixed cost curve is:
A. horizontal. B. always upward-sloping. C. always downward-sloping. D. U-shaped.
In Figure 1.4, a shift of the production possibilities curve from PP1 to PP2 could be caused by
A. Implementation of training programs that improve the skills of workers. B. A flu epidemic that makes many workers sick. C. Tougher pollution controls for the producers of televisions and smartphones. D. An increase in the unemployment rate.