Tariffs discourage imports by making imported products more expensive to consumers
a. True
b. False
Indicate whether the statement is true or false
True
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The U.S. federal government spent more than $4 trillion in 2018, which implies that there were no opportunity costs faced by the United States.
Answer the following statement true (T) or false (F)
Typically the largest component of the narrowly-defined money stock in the United States, known officially as M1, is
A) commercial bank reserves. B) currency in commercial bank vaults or the hands of the public. C) demand deposits and savings deposits in commercial banks. D) checking account deposits. E) gold, silver, coins, and paper currency.
The most likely reason politicians don't appear to economists to look at policy issues in a cost/benefit framework is that:
A. politicians are focusing on the long-run effects of policies rather than the short-run effects. B. politicians don't make rational decisions. C. politicians are not economists. D. the marginal costs and marginal benefits facing the politician are not necessarily the ones facing society.
Refer to the given figure where the nominal interest rate equals 6 percent and the money supply equals 600.
If the Federal Reserve wants to raise the interest rate to 8 percent, it must ________ the money supply to ________.
A. decrease; 400 B. increase; 800 C. decrease; 800 D. increase; 400