The Federal Open Market Committee (FOMC)
A) determines the tax policy of the government.
B) influences the future growth of the money supply.
C) oversees all transactions on the stock market.
D) lends to the least credit-worthy customers.
B
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The 2001 and 2003 tax cuts of the George W. Bush administration each had provisions to
A. lower the earned income tax credit. B. raise tax rates at the upper end. C. raise tax rates at the lower end. D. increase (or speed up the already scheduled increase in) the child tax credit.
Economics is the study of
a. how to make money. b. choices in a world of scarcity. c. how to distribute unlimited production among limited wants. d. All of the above.
Failure to account for the increased transportation costs that would result from building fewer and more centrally located production facilities could result in firm managers selecting a scale of operation that is larger than the optimum
Indicate whether the statement is true or false
Based on the graph showing a reduction in the growth of the money supply, if the economy maintains a 3 percent inflation rate for a fairly long time, people’s expectations will adjust and move the economy from ______.
a. point E to point D
b. point E to point F
c. point F to point D
d. point F to point E