The scope of the EITC program changed dramatically in
A. 1963.
B. 1983.
C. 1993.
D. 1996.
C. 1993.
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The concept of the monetary policy rule is based on the assumption that:
A. discretionary fiscal policy crowds out investment spending. B. the natural rate of unemployment is constant in the long run. C. monetary policy lags are shorter than fiscal policy lags. D. the velocity of money is constant in the short run.
If people decide to hold some of their cash and not deposit it, then the:
A. money multiplier overestimates how much money will be created in the economy. B. reserve ratio is not fully functioning, and should be raised. C. reserve ratio is not fully functioning, and should be lowered. D. money multiplier underestimates how much money will be created in the economy.
As a result of the Great Recession, most financial markets hit bottom around
a. September 2008 b. March 2009 c. September 2009 d. March 2010
Implicit costs are
a. Regarded as costs by accountants, but not economists. b. Payments that a firm makes to other firms or individuals who supply resources to it. c. Opportunity costs such as the value of leisure time, or the highest and best use of the business's assets. d. Costs that vary proportionally with output.