The New Deal
A. may be summarized by these words: relief, recovery, and reform.
B. introduced Medicare and Medicaid.
C. succeeded in quickly extending the Great Depression.
D. reduced the economic role of the federal government.
A. may be summarized by these words: relief, recovery, and reform.
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Refer to the demand and supply equations. What are the equilibrium price and quantity?
What will be an ideal response?
Normal goods have positive income elasticities
a. True b. False Indicate whether the statement is true or false
The Fed has the power to increase or decrease the number of dollars in the economy through the decisions of
a. the Board of Governors. b. the FOMC. c. the regional Federal Reserve Bank presidents. d. the U.S. Treasury.
In the long run, changes in prices of goods and services paid by consumers have no effect on:
A. aggregate demand. B. the macroeconomy. C. aggregate supply. D. All of these are true.