The New York Stock Exchange is an example of a:
A. bank.
B. financial institution.
C. financial instrument.
D. financial market.
Answer: D
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In the 2008-09 recession, the government deficit
A) stayed roughly constant. B) decreased. C) increased. D) would have increased if the government had intervened.
Brinley puts on an art show in a public space, asking for donations based on how much people enjoy his work. Economists would expect that:
a. people will understate their enjoyment of the art in order to "free ride." b. people will overstate their enjoyment of the art, attempting to substitute praise for money. c. people will accurately state their level of enjoyment and pay accordingly. d. Brinley will reap significant economic profits from the event.
In comparing the views of economists on stabilization policy in the 1960s with the current views of economists on stabilization policy, one can say
A) few economists in the 1960s favored stabilization policy, while most economists currently favor stabilization policy. B) economists' views on stabilization policy have changed very little since the 1960s. C) fewer economists currently believe it is possible to use stabilization policy to fine-tune the economy than in the 1960s. D) almost no economists in the currently believe stabilization policy should be used.
Why is it important that consumers respond differently to temporary and permanent increases in their incomes?
A) This implies that consumption will be highly sensitive to temporary changes in income. B) This implies that a temporary tax cut will have a larger effect than a permanent one on current consumption. C) this tells us that the timing of income increases for consumers is irrelevant. D) this has implications for the relative effects of temporary and permanent tax cuts.