In a market capitalist economy, which of the following is not an accepted role for government?
A) provision of national defense
B) enforcing a legal system
C) establishing policies to encourage full employment
D) All of the above are acceptable roles for government.
Ans: D) All of the above are acceptable roles for government.
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One reason the Federal Reserve Board in Washington did not act as a lender of last resort during the early years of the Great Depression, was its power struggle with ____
a. U.S. Treasury b. foreign central banks c. Federal Reserve Bank of New York d. President Roosevelt
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
Suppose a firm has an investment project which will cost $200,000 and result in $30,000 profit. The firm will not undertake the project if the interest rate is
A) greater than 15 percent. B) greater than 10 percent. C) greater than 5 percent. D) positive.
An "equal opportunity" admissions process to college would widen educational disparities between whites and blacks
Indicate whether the statement is true or false