The largest single item in the Federal Budget is
A. foreign aid.
B. defense.
C. Social Security.
D. interest on the debt.
Answer: C
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At Christmastime, individuals choose to hold more cash and fewer deposits to facilitate their Christmas shopping. This condition will
A) increase the money supply, for people will be spending more money. B) have no effect on the money supply because people are just exchanging one form of money (deposits) for another form (cash). C) reduce the money supply because there will be a drain of reserves out of the banks. D) reduce the money supply, for all that cash is spent on Christmas presents.
The assumption of constant velocity is a critical component of the
a. monetarist model. b. classical model. c. real business cycle model. d. new classical model. e. all of the above.
Which of the following would most likely be part of the study of microeconomics?
A) how General Motors makes decisions regarding its production goals B) national income C) the total economic output of our domestic economy D) overall price stability in the United States
In international trade, all payments and gifts that are related to the purchase or sale of both goods and services are referred to as the
A) current account. B) capital account. C) labor account. D) official reserve transactions account.