The election campaign of George Bush to succeed Ronald Reagan as president was
A. hindered due to high levels of unemployment in 1988.
B. hindered by the increasing inflationary problems of the late 1980s.
C. helped by the budget surpluses generated in the last years of the Reagan administration.
D. helped by the continuing low levels of unemployment and inflation in 1988.
Answer: D
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The Treasury yield curve will be downward sloping when
A) investors expect future short-term interest rates to be significantly lower than current short-term interest rates. B) investors expect future short-term interest rates to be significantly higher than current short-term interest rates. C) short-term interest rates are significantly lower than long-term interest rates. D) short-term interest rates are equal to long-term interest rates.
Price decreases always increase economic efficiency.
Answer the following statement true (T) or false (F)
When a price ceiling is set below the equilibrium price,
a. the quantity demanded will exceed quantity supplied. b. the quantity supplied will exceed the quantity demanded. c. the quantity supplied will equal the quantity demanded. d. the equilibrium price will fall.
Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared
a. True b. False Indicate whether the statement is true or false