The monetary base is also known as:
A. M1.
B. M2.
C. free reserves.
D. high-powered money.
Answer: D
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In the figure above, households
A) receive transfers directly from governments. B) buy goods and services from governments in goods markets. C) receive transfers from governments through factor markets. D) sell factors of production to governments. E) pay taxes to governments through factor markets.
Which of the following is inconsistent with Robert Nozick's view of fairness as expressed in his book Anarchy, State, and Utopia?
A) Everything that is valuable must be owned by individuals and that the state must ensure that theft is prevented. B) The only legitimate way a person can acquire property is to buy it. C) The requirement that all people should have equal outcomes. D) None of the above answers is correct because all the answers express thoughts consistent with Nozick's view.
If disposable income falls by $50 billion and consumption falls by $40 billion, then the slope of the consumption function is
A) 1.20. B) 0.80. C) 0.70. D) 0.10.
The ________ book provides information of current economic conditions and is used by the Federal Reserve in formulating monetary policy
A) Red B) Blue C) Beige D) Green