Monetary policy in the United States is principally controlled by
A. the President of the United States.
B. the Federal Reserve.
C. the U.S. Treasury Department.
D. the U.S. Senate.
Answer: B
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In 1929, government purchases accounted for
A) only 18.5 percent of U.S. GNP. B) only 8.5 percent of U.S. GNP. C) 28.5 percent of U.S. GNP. D) 38.5 percent of U.S. GNP. E) 48.5 percent of U.S. GNP.
The less interest-sensitive is money demand, the
A) more effective is fiscal policy relative to monetary policy. B) more effective is monetary policy relative to fiscal policy. C) steeper is the IS curve. D) flatter is the LM curve.
A decrease in demand and a decrease in supply, will lead to a(n) ________ in equilibrium quantity and a(n) ________ in equilibrium price.
A) decrease; indeterminate change B) indeterminate change; increase C) indeterminate change; decrease D) increase; indeterminate change
If an increase in disposable income causes consumption to increase from $4,000 to $10,000 and causes saving to increase from $1,000 to $5,000, then it can be inferred that the MPS equals
A. 0.40. B. 0.05. C. 0.60. D. -0.60.