Which of the following will lead to an increase in the quantity of money demanded?
a. A decrease in the overall level of wealth in the economy
b. A decrease in the price level
c. A decrease in nominal income
d. An increase in real income
e. A decrease in real income
D
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The Conference Board does a good job predicting recessions for reasons that include ________
A) a focus on fewer than five leading variables B) exclusive use of real-time data C) revisions of the components of its monthly index D) all of the above E) none of the above
Which one of the following statements concerning the National Bank Act is not true?
a. It required national banks to buy Treasury bonds equal to one third of their capital. b. It made banks subject to periodic bank audits. c. It reestablished confidence in the banking system. d. It led to a widespread conversion of banks from state to national charters. e. It levied a 10 percent annual tax on state-chartered bank-note issues.
Which of the following statements regarding the cheap foreign labor argument is correct?
a. If there is an abrupt change in foreign competition that severely penalizes American workers, the U.S. government should immediately adopt protectionist measures. b. In the long run, labor will be cheap (wages are low) in those nations where labor is most productive. c. If workers in other countries are willing to supply their products with little compensation, this must ultimately raise the standard of living of the average American worker. d. American workers can never suffer from foreign competition since our monetary and fiscal policies always produce high employment at home.
In thinking about the criteria for an ideal voting system, unanimity means if:
A. the median in the group prefers option X to option Y, then X beats Y. B. the majority of the group prefers option X to option Y, then X beats Y. C. no one in the group prefers option X to option Y, then it must still be possible for X to beat Y. D. everyone in the group prefers option X to option Y, then X beats Y.