The U.S. Office of Management and Budget plays a crucial role in the federal rule-making process
Indicate whether the statement is true or false
T A proposed rule from any branch of government goes first to the Office of Management and Budget and then proceeds through a prescribed process seeking approval.
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In a closed economy:
A) consumption is equal to zero. B) investment is equal to zero. C) government spending is equal to zero. D) net exports is equal to zero. In a closed economy, without the government, the consumption expenditure equals $5,000 and the investment expenditure equals $2,000.
The relationship between the growth rate of an economic variable, gt, and its level, yt, can be approximated by
A) gt = yt - yt - 1. B) gt = logt - log yt - 1. C) yt = log gt - log gt - 1. D) log gt = yt - yt - 1.
Refer to the graph above. Which of the following changes will shift AD 1 to AD 2?
A cut in personal and business taxes A shrinkage in the value of stocks and other financial assets An increase in the value of the dollar relative to other currencies An increase in real interest rates
Inflation redistributes income from people who do not raise their prices to people who do raise their prices.
Answer the following statement true (T) or false (F)