Which of the following categories accounts for roughly 70% of all federal spending?
a. Regional development, law enforcement and the judicial system, and administrative costs
b. Transportation, housing, education, and income support for the poor
c. International affairs, science and technology, and natural resources
d. National defense, Social Security, health care, and interest payments
d
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In the Great Recession of 2007-2009, the stock market values shrank, causing a reverse ________.
A. interest-rate effect B. wealth effect C. real-balances effect D. expectations effect
Capital flight
A) increases reserves. B) is never associated with the expectation of devaluation. C) may undo expected devaluation. D) reduces losses during a devaluation scare. E) decreases reserves and may induce devaluation.
All else equal, if the interest rate is 5%, what is the PDV of a lottery prize that pays $1,000,000 today and $1,000,000 each year for the next 19 years?
A. $10,500,000 B. $12,462,210 C. $13,085,321 D. $20,000,000
Laissez-faire is a French expression which literally means
a. to make do. b. to get involved. c. whatever works. d. allow them to do.