As a percentage of GDP, the federal government expenditure which is expected to increase the most between 2012 and 2042 is
A) Social Security.
B) Medicare and Medicaid.
C) the net interest on the federal debt.
D) national defense.
C
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The real power within the Federal Reserve lies with the
A) Council of Economic Advisors. B) Council of Monetary Advisors. C) Board of Governors. D) Federal Reserve District banks.
A bank's "required reserves" are:
a. held as deposits with the Federal Reserve System. b. equal to its checkable deposits. c. equal to its transactions deposits. d. none of these.
The figure below shows a situation where the producers of Good X are forming an international cartel. Here, MR = Marginal Revenue, and MC = Marginal Cost. The cartel will set a monopoly price for its output.
A decrease in the global market share of the cartel would lead to a
A. leftward shift of the cartel demand curve and a fall in cartel output. B. rightward shift of the cartel marginal-cost curve and a rise in cartel output. C. rightward shift of the cartel demand curve and a fall in cartel output. D. leftward shift of the cartel marginal-cost curve and a rise in cartel output.
The discount rate cannot be used to control the money supply with great precision because its effects on banks' demand for reserves are uncertain.
Answer the following statement true (T) or false (F)