If a central bank does not want to see its currency rise in value, it may pursue ________ monetary policy to ________ the domestic interest rate, thereby weakening its currency
A) expansionary; raise
B) contractionary; raise
C) expansionary; lower
D) contractionary; lower
C
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Between 1998 and 2001 the federal budget
A. was in balance. B. was running steadily declining deficits. C. was running surpluses. D. ran deficits the first two year that turned into surpluses the last two years.
For all practical purposes, the supply of land is:
A. almost perfectly inelastic. B. negatively sloped. C. relatively elastic. D. perfectly elastic.
Positive economics is an approach to economics that
A. analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe preferred courses of action. B. examines the role of government in the economy. C. seeks to understand behavior and the operation of systems while making judgments about their usefulness to society. D. seeks to understand behavior and the operation of systems without making judgments.
The excise tax is
A. regressive. B. progressive. C. proportional. D. an ability-to-pay tax.