The last federal budget surplus was in which of these years?
A. 1983-1985
B. 1975-1980
C. 1998-2000
D. 1991-1996
C. 1998-2000
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It is costly to hold money because
A. in doing so, one sacrifices interest income. B. bond prices are highly variable. C. the rate at which money is spent may decline. D. deflation may reduce its purchasing power.
The IMF, because it can force nations to take loans and bail out packages, has more power than other international governmental organizations dealing with the global economy
Indicate whether the statement is true or false
In recent years, the Fed has generally set the discount rate
a. lower than the federal funds rate to help financially troubled banks get more solvent. b. higher than the interest rate on 30-year fixed-rate mortgage loans. c. higher than the federal funds rate for most banks. d. equal to the rate of inflation.
Juanita, a lawyer, can type faster than Jill, her secretary. Jill, on the other hand, does not have the ability or skills to practice law. Applying the principles of international trade to this situation, an economic consultant advises Juanita to:
A. fire Jill, practice law during the day, and do her own typing at night. B. practice law and leave all the typing to the secretary. C. divide her time equally between typing and practicing law. D. quit practicing law and take a job as a secretary.