The Fed has immense power and there are no limits to the extent to which it can effectively control the economy
Indicate whether the statement is true or false
FALSE
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Ashton has the utility of wealth curve shown in the above figure. Ashton owns a sports car worth $30,000, and that is his only wealth. Ashton is a careless driver and there is a 30 percent chance that he will have an accident within a year
If he does have an accident, his car is worthless. Suppose all sports cars owners are like Ashton. An insurance company agrees to pay each person who has an accident the full value of their car. The company's operating expenses are $1,000. What is the minimum insurance premium that the company is willing to accept? A) $3,000 per year B) $6,000 per year C) $10,000 per year D) $15,000 per year
The extremely low savings rate in the United States has forced us to borrow almost $____ billion a day to finance our federal budget deficit and trade deficit.
A. 1 B. 2 C. 3 D. 4
One of the implications of new growth theory is that economic growth arises from
A. financial safety nets for the poor, such as Medicaid. B. investments in knowledge. C. reductions in the birth rate. D. more government spending, such as military spending.
The Earned Income Tax Credit is available to all taxpayers, regardless of income level.
Answer the following statement true (T) or false (F)