In October 2008, Congress passed the ________, under which the Treasury provided funds to banks in exchange for stock
A) Bank Rescue Alliance Treaty (BRAT)
B) Mortgage Transfer Agency (MTA)
C) Troubled Asset Relief Program (TARP)
D) Financial Assurance Association (FAA)
Answer: C
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Macroeconomics is best described as the study of
A) the nation's economy as a whole. B) very large issues. C) the choices made by individual households, firms, and governments. D) the relationship between inflation and wage inequality.
All else equal, if job turnover has people leaving jobs and finding new jobs in the same industry, this will
A) decrease the supply of labor, but not change the demand for labor. B) increase the demand for labor and the supply of labor. C) increase the demand for labor and decrease the supply of labor. D) not change demand or supply in the labor market.
Perfect competition is the term used to describe
A. an industry in which all businessmen are honest and accommodating. B. an industry in which numerous firms produce identical products. C. an industry untouched by government regulation. D. the kind of industry any American would support.
During a recession, the price of restaurant meals falls by over 10 percent. The most likely cause is:
A. a shift of the demand curve to the right. B. a shift of the supply curve to the left. C. a shift of the supply curve to the right. D. a shift of the demand curve to the left.