What is one thing the Fed can do to slow the growth of the money supply?
a. sell bonds
b. buy bonds
c. decrease the discount rate
d. lower reserve requirements
a. sell bonds
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If the production possibilities frontier is a straight line,
a. its slope will equal -1 b. resources must not be used efficiently c. resources must be unemployed d. society must not be using the latest technology e. resources must be equally adaptable at producing either product
Corrective taxes differ from most taxes in that corrective taxes
a. reduce economic efficiency. b. do not raise revenue for the government. c. do not cause deadweight losses. d. always result in a high burden on sellers of goods to which the corrective tax applies.
When current government expenditures exceed current tax revenues and the economy is achieving full employment:
A. the cyclically adjusted budget has neither a deficit nor a surplus. B. the cyclically adjusted budget has a deficit. C. fiscal policy is contractionary. D. the cyclically adjusted budget has a surplus.
________ is an example of tangible capital.
A. A pet store's unsold, unopened bags of dog food B. An idea for a new business C. Knowledge of how to operate a forklift D. The goodwill a firm has established through charitable giving