During the colonial period, commodities that could only be exported legally to Britain were known as _______
a. Foxwell goods.
b. tariff goods.
c. scot-free goods.
d. enumerated goods.
d. enumerated goods.
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Use the following graph for the federal funds market to answer the next question.
If the Fed wants to raise the federal funds rate by one-half of a percentage point, it should ________.
A. act to increase reserves by $50 billion B. buy bonds from banks and the public C. act to reduce reserves by $50 billion D. pursue an expansionary monetary policy
How did the impact of President Obama's fiscal stimulus in 2009 compare to the impact of President Bush's tax cuts and increased defense spending on the structural deficit?
A. President Obama's effect on the structural budget deficit was much higher than President Bush's. B. The impact on the structural budget was not measured-only the cyclical impact of these policies. C. President Obama and President Bush's impacts on the structural budget deficit were about equal. D. President Obama's effect on the structural budget deficit was much lower than President Bush's.
We would expect the risk spread between Baa bonds and U.S. Treasury securities of the same maturities to:
A. remain relatively constant over the business cycle. B. increase during economic growth periods. C. widen during periods of economic recession. D. decrease during economic slowdowns.
Refer to the diagrams, in which AD 1 and AS 1 are the "before" curves and AD 2 and AS 2 are the "after" curves. A recession is depicted by:
A. panel (A) only.
B. panel (B) only.
C. panel (C) only.
D. panels (A) and (B).