Which of the books used at the FOMC meetings contain the Board staff's economic forecast for the next few years?
A. The Tealbook
B. The Beigebook
C. Both the Beigebook and Bluebook
D. The Bluebook
Answer: A
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The United States has the biggest national economy in the world solely because of the U.S. population.
Answer the following statement true (T) or false (F)
A government budget surplus from reduced government spending (no change in net taxes) will ________ the level of investment in the economy and ________ the level of saving (private plus public) in the economy
A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase
An important failure of the "new economics" of the 1960s was its ________ monetary policy and its ability if made ________ to offset a tighter fiscal policy
A) denigration of, tighter B) denigration of, easier C) overemphasis on, tighter D) overemphasis on, easier
A nonexcludable good _____
a. is by definition also a collective consumption good b. usually suffers from the free rider problem c. will always lead to overproduction d. is frequently illegal