Prior to 1921, the President _____ the budget process
a. played a significant role in
b. played a minor role in
c. played no direct role in
d. determined the nature of
c
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Limits on the value of the assets that commercial banks can acquire relative to their capital is known as:
A) equity requirements B) capital requirements C) required reserves D) asset requirements
"With autonomous changes in the policy interest rate, the Federal Reserve cannot determine the long run equilibrium level of the real interest rate or potential output and will only be able to determine inflation"
This statement is consistent with ________. A) the notion that shifts in the MP curve may lead to shifts in the AD and AS curves but the LRAS remains unchanged B) the notion of long-run independence between nominal and real variables C) the notion of monetary neutrality D) all of the above E) none of the above
The Federal Insurance Contribution Act (FICA) tax is an example of a(n)
a. payroll tax. b. sales tax. c. farm subsidy. d. income subsidy.
What does it mean when a good is rival in consumption?
a) One person's use of the good diminishes another person's ability to use it. b) People can be prevented from using the good. c) No more than one person can use the good at a time. d) Everyone will be excluded from obtaining the good.