The Federal Reserve System is
a. controlled by the Department of the Treasury.
b. the central bank for the United States.
c. completely similar to the Bank of England.
d. All of the above are correct.
b
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A U.S. tariff imposed on items that can be produced more cheaply abroad
A) benefits Americans by making these goods cheaper. B) makes the goods more expensive in foreign markets. C) creates a deadweight loss. D) makes the world market more efficient.
By the height of the housing bubble in 2005 and early 2006, lenders had greatly loosened the standards for obtaining a mortgage loan, with many mortgages being granted to sub-prime borrowers ________ and "Alt-A" borrowers ________
A) with flawed credit histories; who did not document their incomes B) who borrowed money at rates below the prime interest rate; who had AAA credit ratings C) who purchased homes in depressed housing markets; who purchased homes which were repossessed by government agencies D) who borrowed more than 120 percent of the value of the house; with no proof of U.S. citizenship
If a citizen decides he has had enough of big government and launches a personal campaign to expose big spenders in Congress,
a. he is likely to have his taxes reduced dramatically b. his taxes are not likely to fall very much c. he will be thrown in jail d. he is likely to get elected by other voters e. he will get the support of many special-interest groups
Visitors to a country hosting a world soccer tournament purchase food, souvenirs, and accommodations while attending the tournament. Which of the following should these expenditures raise?
a. The host country's net exports and its net capital outflow b. The host country's net exports but not its net capital outflow. c. The host country's net capital outflow but nor its net exports. d. Neither the host country's net exports not its net capital outflow.