The book that is the basis for modern macroeconomic theory is
A. The Wealth of Nations.
B. Principles of Political Economy.
C. The General History of Money and Banking.
D. The General Theory of Employment, Interest, and Money.
Answer: D
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The deposit expansion multiplier would increase if the Fed were to
A) raise the required reserve ratio. B) lower the required reserve ratio. C) raise the discount rate. D) sell bonds.
List five theoretical economic reasons why federalism might be desirable
What will be an ideal response?
Suppose there is an increase in the supply of a good. Which of the following statements is true?
A. The closer the demand curve is to being vertical, the larger the decrease in equilibrium price, and the smaller the increase in equilibrium quantity. B. The closer the demand curve is to being horizontal, the larger the decrease in equilibrium price, and the smaller the increase in equilibrium quantity. C. The closer the demand curve is to being vertical, the smaller the decrease in equilibrium price, and the larger the increase in equilibrium quantity. D. The closer the demand curve is to being vertical, the larger the increase in equilibrium price, and the smaller the decrease in equilibrium quantity.
As of the year 2000, agriculture accounted for what percentage of total U.S. output?
A. 8 percent. B. 5 percent. C. 1 percent. D. None of the choices are correct.