An example of entitlement spending is:
A. national defense.
B. Social Security.
C. police protection.
D. garbage collection.
B. Social Security.
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The majority of economists favor open capital flows
Indicate whether the statement is true or false
When the required reserve ratio is changed,
A. the money multiplier is changed but the amount of excess reserves in the banking system is unchanged. B. the money multiplier is unchanged but the amount of excess reserves in the banking system is changed. C. the size of the money multiplier and the amount of excess reserves change in the opposite direction from the required reserve ratio. D. the size of the money multiplier and the amount of excess reserves change in the same direction as the required reserve ratio.
A good economic model
A) cannot be refuted. B) describes the real world completely and in detail. C) captures the essential relationships of the problem under consideration. D) captures all relationships about the problem under consideration.
The Fed's two main monetary policy targets are
A) the money supply and the inflation rate. B) the money supply and the interest rate. C) the interest rate and real GDP. D) the inflation rate and real GDP.