Personal income minus personal taxes equals disposable personal income
a. True
b. False
Indicate whether the statement is true or false
True
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In our modern financial system, money is created
A) only by central banks. B) only by the banking system. C) by central banks and the banking system. D) only by federal governments.
The tendency of people to value something more highly when they own it is called the
A) wealth effect. B) endowment effect. C) path dependent effect. D) endorsement effect.
In early 2005, inflation increased unexpectedly due to an increase oil prices. This helped
A. workers. B. borrowers. C. lenders. D. people on fixed incomes.
One significant criticism of the major proposition of supply-side economics during the period 1980-1988 was that:
A. The tight monetary policy of the Federal Reserve slowed the growth of the economy and caused a severe recession B. Major sectors of the economy failed to achieve optimal efficiency from increased regulation by government C. There was a significant increase in the rate of unemployment over the period D. Growth in the productive capacity of the economy did not exceed the historical pace