Suppose that a series of decisions by banks effectively raises e. The resulting ________ in the money supply could be offset by the Fed with a "defensive" open market ________ of government securities
A) rise, purchase
B) rise, sale
C) fall, purchase
D) fall, sale
C
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Forecasts by the Congressional Budget Office show spending on Social Security, Medicare, and Medicaid rising from 10
1 percent of GDP in 2015 to ________ percent of GDP in 2090, and by 2090 the federal government will be spending, as a fraction of GDP, ________ on these three programs as it currently spends on all programs combined. A) 16.2 percent; half as much B) 19.8 percent; nearly as much C) 16.2 percent; nearly as much D) 19.8 percent; half as much
According to Edward Denison, the United States has experienced
a. diseconomies of scale. b. economies of scale. c. constant returns to scale. d. None of the above
In the short run, which one of the following causes a competitive firm to hire more labor?
A) an increase in wage rate B) an increase in the output price C) a specific tax imposed on the firm's output D) a decrease in the output price
If injections are greater than withdrawals:
a) National income is likely to increase b) National income is likely todecrease c) National income will stay in equilibrium d) Prices will fall