Discretionary fiscal policy is often initiated on the advice of the:
A. Congressional Budget Office
B. Council of Economic Advisers
C. Joint Economic Committee
D. Federal Reserve Board
B. Council of Economic Advisers
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A bank's costs include all of the following EXCEPT
A) the interest it pays to depositors. B) the interest it pays on its loans or debt. C) the cost of providing services. D) the fees paid to maintain its reserve at the Federal Reserve.
Monetary
What will be an ideal response?
Which of the following provides the best example of the winner's curse?
a. Sports teams bidding on free agents of uncertain abilities. b. Loyal consumers buying six packs of a popular soft drink at the grocery store. c. Employers paying skilled and experienced workers with considerable job tenure a premium wage. d. An investor estimating the value of his fixed deposit.
The fact that indifference curves are downward sloping
A) is not true. B) follows from the fact that more is preferred to less. C) follows from the property that the consumer likes diversity in his or her consumption bundle. D) follows from the property that consumption and leisure are normal goods.