In the United States, the idea that the federal government should undertake actions to stabilize business activity
A) was established in the Declaration of Independence.
B) is a relatively new idea that developed in the years during and after the Great Depression.
C) has been around since the early 1700s.
D) developed during World War I.
B
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M1 equals currency plus demand deposits plus
a. nothing else. b. other checkable deposits. c. traveler's checks plus other checkable deposits. d. traveler's checks plus other checkable deposits plus savings deposits.
The exchange rate is the price of
A. An import purchased at the local electronics store. B. An export purchased in a foreign nation. C. One good in terms of another. D. One currency in terms of another.
The shifts in aggregate demand and aggregate supply as a result of the housing bubble collapse caused output to:
A. fall dramatically immediately. B. stay the same, since the shifts worked in opposite directions. C. fall at a relatively slow rate over time. D. rise temporarily, then fall.
Incurring an internal debt to finance a war like World War II does not pass the true cost of the war on to future generations because:
A. The opportunity cost of wartime expenditures was borne by the generation that lived during the war B. The Federal government can shift expenditures from military goods to the production of other public goods C. The Federal government has the power to levy taxes to pay its debts D. Wartime inflation reduces the relative size of the public debt