Which of the following is the largest measure of money in the United States?
A) Federal Reserve notes
B) definitive money
C) M1
D) M2
D
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When actual output equals potential output there is ________ output gap and the rate of inflation will tend to ________.
A. an expansionary; increase B. no; remain the same C. an expansionary; decrease D. a recessionary; increase
A tax that takes a larger proportion of income from low-income groups than from high-income groups is a:
A. stabilizing tax. B. regressive tax. C. proportional tax. D. progressive tax.
Which of the following statements about featherbedding is correct?
A. It may or may not increase the demand for labor. B. It may or may not increase wages. C. It forces a firm to hire more workers than it needs. D. All of these
The United States placed a limit on the amount of cars that can be imported into the United States. This is an example of
A. a tariff. B. a quota. C. an export subsidy. D. dumping.