In recent decades, the trend among central banks has been to adopt ________
A) high employment as a central goal
B) a dual mandate that gives equal weight to both price stability and low unemployment.
C) price stability as a central goal
D) a target of zero inflation
E) none of the above
C
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Lower U.S. interest rates cause the value of the dollar to
A) fall, making U.S. goods relatively more expensive on world markets. B) fall, making U.S. goods relatively cheaper on world markets. C) rise, making U.S. goods relatively more expensive on world markets. D) rise, making U.S. goods relatively cheaper on world markets.
Tax revenues are transferred from
A) state governments to the federal government. B) local governments to state and federal governments. C) one state government to other state governments. D) the federal government to state and local governments. E) the state and local governments to the federal government.
Which of the following statements is a correct interpretation of some economists' views?
A. When the rich do well, the total pie is increased so much that the benefits that trickle down to the poor are greater than the proceeds they would get from redistribution. B. When the government gives income to the head of a household, other members of the household remain in need. C. When the rich do well, the total pie is decreased, so that the poor are worse off than they were before. D. When the incomes of the poor are increased, the poor purchase more goods and services, and this causes lower profits.
Why does popular democracy, as defined in the U.S. Constitution, contribute to long-term economic growth and political stability?
(a) It allows regular change in the structure of the government. (b) It provides incentive to invest, innovate and invent. (c) It permits the President of the U.S. to choose fiscal policies to advance contemporary mercantilism. (d) It transfers wealth from the extremely wealthy to the desperately poor.