Under a balanced budget policy, a sharp rise in GDP will cause
A. no serious budget changes.
B. a tax cut or an increase in expenditures.
C. a tax increase or expenditure cut.
D. tax receipts to exceed government expenditures.
Answer: B
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Refer to the scenario above. If Frank discounts delayed utilities with a weight of 9/10, then which of the following statements is true?
A) He will eat both hotdogs and ice cream. B) He will eat hotdogs but avoid ice cream. C) He will eat ice cream but avoid hotdogs. D) He will avoid consuming both hotdogs and ice cream.
When the Fed buys a Treasury bill from the public, how does it usually pay for the T-bill?
a. by writing a check on a commercial bank account b. by printing new Federal Reserve notes c. by creating new reserves in bank accounts d. by prepaying taxes into the Treasury's account
Modern inventions, like the Internet or discoveries in genetics or materials science, seem to provide smaller gains to output than earlier inventions like the steam engine or the railroad
a. True b. False Indicate whether the statement is true or false
What is a patent used for?
a) to disseminate information b) to restrict ownership c) to protect inventors for as long as they live d) to assign property rights