Laws that change the tax code must begin
A. with the President.
B. in the House of Representatives.
C. in the Senate.
D. none of these, they may begin anywhere.
Answer: B
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The expected inflation rate is the
A) same as the actual inflation rate. B) inter-annual, non-energy inflation rate. C) inflation rate that people forecast and use to set the money wage and other money prices. D) rate that people expect the Bureau of Labor Statistics to announce each month, on which bookies take bets. E) inflation rate that the Federal Reserve system announces as the policy goal for the year.
Why did fewer state banks choose to become or remain members of the Federal Reserve System during the 1960s and 1970s?
A) Nominal interest rates rose. B) The required reserve ratio rose. C) The discount rate rose. D) Open market operations declined.
If $1,000 is placed in an account earning 8% annually, the balance at the end of seven years will be
A) $1,080. B) $1,560. C) $2,000. D) $1,714.
Is it possible for a normal good to be a Giffen good? Briefly explain