The elements of the federal budget not determined by past legislative or executive commitments are
A. Fiscal restraint items.
B. Discretionary fiscal spending.
C. Uncontrollable fiscal spending.
D. Automatic stabilizers.
Answer: B
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If the interest rate is 8 percent, $54 next year is worth __________ today
a. $62 b. $50.68 c. $50 d. $62 e. $4.32
Like the physical and life sciences, as well as other social sciences, economics relies on the ___________ method.
Fill in the blank(s) with the appropriate word(s).
Refer to Figure 13-2. Ceteris paribus, an increase in productivity would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
The notion that in a world with n markets, if n - 1 are in equilibrium, so must the nth, is known as
A) the uncertainty principle. B) the first law of international trade. C) Walras Law. D) Friedman Law.