When decision rights are decentralized, typically
a. decisions are being moved to those with more of the relevant information
b. decisions are being moved to those with stronger incentives to make good decisions
c. decisions are being moved from those with more of the relevant information
d. decisions are being moved from those with weaker incentives to make good decisions
a
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The monetary base is $1,000 billion and the money multiplier is 5.5. What is the size of the money supply?
What will be an ideal response?
The U.S. imposed high tariffs in the early nineteenth century in retaliation for British tariffs imposed on American goods
Indicate whether the statement is true or false
Under a market system of resource allocation
a. prices determine what consumers buy while the government determines what firms produce b. prices determine what firms produce while the government determines what consumers buy c. prices determine both what firms produce and what consumers buy d. the government determines both what firms produce and what consumers buy e. the government allocates resources while prices allocate goods and services
In fiscal year 2014, the U.S. federal budget deficit amounted to about:
a. 1.2% of GDP b. 3.7% of GDP c. 4.5% of GDP d. 10% of GDP