Which of the following sets of goods might, under the right circumstances, be substitutes for an automobile?
A) Buses, trains, planes
B) Powerboats, blimps, motorcycles
C) Motels, tents, cardboard boxes
D) Designer suits, fine wines, fancy homes
E) All of the above.
E
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The introduction of new technologies to production is ________ source of productivity improvement.
A. the only B. the least important C. no longer a D. the most important
Contractionary policies help correct a balance of payments deficit by
a. lowering domestic incomes but raising demand for imports b. raising domestic incomes but lowering demand for imports c. raising both domestic incomes and demand for imports d. lowering both domestic incomes and demand for imports e. lowering interest rates and increasing aggregate spending
Which of the following was true of the actions of the Federal Reserve in response to the recession of 2008?
a. The Fed shifted toward a highly restrictive monetary policy in 2008, which was a major cause of the recession. b. The Fed continued to focus only on price stability and therefore it expanded the money supply at a slow and steady rate throughout the recession. c. The Fed introduced several new procedures for the conduct of monetary policy and it increased the monetary base rapidly as the recession worsened. d. The Fed continued to purchase and sell only U.S. Treasury bonds when conducting open market operations to control the money supply.
"Social Security should be privatized to get the government out of the retirement-financing business," is an example of a ________ statement about ________ policy.
A. positive; fiscal B. positive; structural C. normative; structural D. normative; monetary