The total value of government securities held by individuals, businesses, government agencies, and the Federal Reserve is known as
a. negotiable IOUs
b. money market funds
c. the deficit
d. public debt
e. general (private and public) debt
D
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The key to sustained economic growth is increasing labor productivity
Indicate whether the statement is true or false
Recent legislation provides parents with a substantial reduction in their personal income tax liability for each child that they have. The economic way of thinking indicates that legislation of this type will
a. make it more costly for parents to provide for their children. b. reduce the value of children to their parents and, therefore, lead to a reduction in the birth rate. c. reduce the after-tax cost of raising children and, therefore, increase the birth rate. d. exert no impact on either the cost of raising children or the birth rate since having children is a not an economic activity.
Everything else equal, if the Fed decided to fix the euro/dollar exchange rate, what would be the impact on the money supply in the U.S. if the euro started to decline in value and why?
What will be an ideal response?
In symbolic terms where Y equals real GDP, POP equals total population, and N equals the number of employed workers, Y/POP must equal:
A. N/Y × POP/N. B. Y/POP × N/POP C. N/Y × N/POP D. Y/N × N/POP.