Refer to the information provided in Figure 24.3 below to answer the question(s) that follow.
Figure 24.3Refer to Figure 24.3. At equilibrium, ________ equal $300 billion.
A. autonomous planned expenditures
B. break even income
C. autonomous consumption
D. autonomous saving
Answer: A
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Suppose a central bank tries to keep exchange rates fixed. When there is an increase in the demand for foreign goods, the central bank will most likely
A. use foreign reserves to buy the domestic currency. B. sell the domestic currency in exchange for foreign reserves. C. do nothing. D. buy foreign currency in exchange for the domestic currency.
Which of the following is not a policy instrument of the Fed?
A. Open-market operations B. Changing reserve requirements C. Changing the federal government budget deficit D. Changing the discount rate
List and describe the three effects that help to explain why the aggregate demand (AD) curve slopes downward
The main reason the usefulness of Pareto optimal policies is limited as a policy guide is that:
A. it is too subjective. B. real-world changes in which more people are helped than are harmed are rare. C. real-world changes in which no one is harmed are rare or nonexistent. D. it is only objective, and good policy also requires a subjective element.