The central bank in the United States is the ________.
A) Federal Reserve System
B) U.S. Exchange Reserve
C) Board of Governors
D) U.S. Treasury
A) Federal Reserve System
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After a tariff is imposed on a good, the price of the good
A) does not change. B) falls. C) rises. D) rises only if the domestic demand for the good does not change. E) might rise, fall, or not change depending on whether the government did or did not simultaneously impose a quota.
John Maynard Keynes sought to solve the economic problem of the Great Depression, which was the coexistence of
A. high production and high inflation. B. low production and low unemployment. C. low production and high unemployment. D. high production and low inflation.
To achieve a $500 billion decrease in AD, if the MPC is 0.8, what decrease in government purchases would be called for?
a. $100 billion b. $400 billion c. $500 billion d. $625 billion
If a tax shifts the demand curve upward (or to the right), we can infer that the tax was levied on
a. buyers of the good. b. sellers of the good. c. both buyers and sellers of the good. d. We cannot infer anything because the shift described is not consistent with a tax.