The Troubled Asset Relief Program (or TARP) was introduced in order to:
A. reduce asset prices.
B. reduce the government budget deficit.
C. generate additional tax revenue.
D. prevent the collapse of large financial institutions.
Answer: D
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The currency of the United States is
a. backed dollar for dollar by gold b. backed dollar for dollar by GDP (that is, by goods) c. not backed by anything (neither gold nor fool's gold) d. backed by the government's currency reserves in the vaults at Fort Knox e. backed by gold only for coin, not for paper bills
The use of debt financing to purchase food, clothing, vacations, and other non-durable items
A) is prudent as long as you have an unused balance on your credit card. B) is imprudent because such purchases will mean that you will soon be making payments on items that have you have already consumed. C) is prudent as long as you plan to save more in the future. D) is imprudent unless you need to purchase these items to impress your friends.
A public good:
A. Generally results in substantial negative externalities B. Can never be provided by a nongovernmental organization C. Costs essentially nothing to produce and is thus provided by the government at a zero price D. Can't be provided to one person without making it available to others as well
As the U.S. recession was developing in the summer of 2008, oil prices peaked near
A. $110 per barrel. B. $140 per barrel. C. $60 per barrel. D. $30 per barrel.