There have been no major banking panics in the U.S. since the creation of the Federal Reserve System
a. True
b. False
B
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Should autonomous consumption fall by one dollar, the effect of this on equilibrium income can be offset if government expenditure
A) falls by one dollar. B) rises by one dollar. C) falls by 1/(1 - c) dollars. D) rises by 1/(1 - c) dollars. E) rises by c/(1 - c) dollars.
When real consumption expenditure is plotted against real disposable income the resulting relationship is
a. very weak. b. positive and very curvi-linear. c. positive and very close to linear. d. negative and very close to linear. e. virtually flat.
It is difficult to privately produce a public good because such goods are ______.
a. nonrival and excludable b. rival and nonexcludable c. nonrival and nonexcludable d. rival and excludable
The dissolving of the _____________ in 1991 resulted in a "peace dividend" for the United States that enabled us to divert tens of billions of dollars a year from military spending to much more productive uses.
Fill in the blank(s) with the appropriate word(s).