Relative to GDP, interest on the national debt
a. has grown at a steady rate during the last 40 years
b. has remained constant in recent decades
c. grew especially rapidly during the 1980s
d. declined slightly during the 1980s
e. fluctuates as retirement portfolios change their allocation of government securities
C
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When the Federal Reserve calls in a discount loan from a bank, the monetary base ________ and reserves ________
A) remains unchanged; decrease B) remains unchanged; increase C) decreases; decrease D) decreases; remains unchanged
Among economists, it is generally believed that
A) the federal budget deficit will be eliminated within 10 years. B) the public debt will be paid off within 10 years. C) entitlement spending will continue to decline. D) the federal government will find it difficult to cut entitlement programs.
In 2008 ___________ had the highest annual expenditures on public and private schools per student.
A. Spain B. France C. United States D. Japan
When the Federal Open Market Committee meets it
a. looks only at the state of economy to determine how to conduct monetary operations in order to follow the monetary policy rule set by law. b. looks at the state of the economy and economic forecasts to determine how to conduct monetary operations in order to follow the monetary policy rule set by law. c. looks only at the state of the economy to determine the target it will set for the federal funds rate. d. looks at the state of the economy and economic forecasts to determine the target it will set for the federal funds rate.