Relatively rapid U.S. growth between 2002 and 2007 contributed to large U.S. trade deficits by:
A. increasing U.S. national income, which decreased U.S. exports.
B. reducing real interest rates in the United States.
C. increasing U.S. tax revenues and reducing the federal budget deficit.
D. increasing U.S. national income, which increased U.S. imports.
D. increasing U.S. national income, which increased U.S. imports.
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Monopoly profits lead to technological process by
A) increasing the amount of human capital in the economy. B) firms lobbying Congress for protection of their monopolies. C) carefully investing deadweight loss. D) encouraging the development of innovations by firms attempting to break a monopoly.
Over the post-war era, the gaps between countries' living standards
A) disappeared. B) stayed the same. C) increased. D) decreased. E) changed inconsistently.
The reserve demand schedule is drawn on a graph that has the quantity of reserves on the horizontal axis and
a. the price level is on the vertical axis. b. the federal funds rate is on the vertical axis. c. the price of bonds is on the vertical axis. d. income is on the vertical axis.
The Federal Open Market Committee (FOMC)
A. determines the tax policy of the government. B. lends to the least credit-worthy customers. C. oversees all transactions on the stock market. D. influences the future growth of the money supply.