Over the past 100 years, as the U.S. economy's income has grown,
a. tax rates have decreased, while tax revenues have increased.
b. tax rates have increased, while tax revenues have decreased.
c. both tax rates and tax revenues have increased.
d. both tax rates and tax revenues have decreased.
c
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Rolnick and Weber point out that a bimetallic standard will not exhibit Gresham's Law if:
a. people are willing to use coins at their market values. b. people are willing to use coins at their face values. c. the government regulates the quantity of each type of coin in circulation. d. paper money circulates along with minted coins.
If the Consumer Price Index was 102.2 in 2007 and 104.9 in 2008, we can conclude that
a. the prices of all consumer goods were higher in 2008 than in 2007 b. the prices of all consumer goods were lower in 2008 than in 2007 c. the price level fell from 2007 to 2008 d. the price level rose from 2007 to 2008 e. the base year was 2001
Which of the following items is included in M2?
a. credit cards b. money market mutual funds c. corporate bonds d. large time deposits
The net flow of financial assets and similar claims is the private current account balance.
Answer the following statement true (T) or false (F)