The Fed is institutionally independent. A major advantage of this is that monetary policy
a. is subject to regular congressional scrutiny.
b. will often offset fiscal policy.
c. is not controlled by politicians.
d. is usually coordinated with fiscal policy.
C
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Lou and Alex live together and share household chores. They like to cook some meals ahead of time and eat leftovers. The table below shows the number of rooms they can each clean and the number of meals they can each cook in an hour. Rooms CleanedPer Hour Meals CookedPer HourLou54Alex33If Alex and Lou work out an efficient arrangement for these two chores, then under that arrangement:
A. Lou would do all of the cleaning and all of the cooking. B. Alex would do all of the cleaning, while Lou would do all the cooking. C. Alex and Lou each would do half of the cooking and half of the cleaning. D. Lou would do all of the cleaning, while Alex would do all of the cooking.
________ increases households' saving
A) A decrease in the real interest rate B) A tax cut that increases disposable income C) Higher expected future income D) A stock market boom that increases the purchasing power of households' wealth
If a sailboat manufacturer has an agreement with the firm that produces the engines for the sailboats, this is an example of a ________ agreement.
A) vertical B) rightward C) horizontal D) leftward
Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero. If Leo earns $150, then he will receive ________ in total benefits from the two programs.
A. $225. B. $75. C. $325. D. 0.