In 2007, the value of the American dollar rose relative to the euro
a. True
b. False
Indicate whether the statement is true or false
False
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Before 1863
A) federally-chartered banks had regulatory advantages not granted to state-chartered banks. B) the number of federally-chartered banks grew at a much faster rate than at any other time since the end of the Civil War. C) banks acquired funds by issuing banknotes. D) banks were required to maintain 100% of their deposits as reserves.
According to the income effect, when the price of automobiles rises, people buy fewer automobiles because:
a. they substitute other forms of transportation for driving. b. the nominal amount of their paychecks is smaller. c. the purchasing power of their income is reduced. d. their demand for automobiles is very elastic.
While the classicists believed that both velocity and output are stable, Keynesians believe:
a. velocity is stable and output is variable. b. velocity and output are both variable. c. output is stable and velocity is variable d. the same as the classical economists that both output and velocity are stable e. at low levels of income both velocity and output are stable, but at high levels of income velocity becomes variable.
Which of the following is an example of the U.S. government's use of a "command-and-control" approach to reducing pollution?
A) In 1990 Congress approved measures designed to reduce sulfur dioxide emissions to 8.5 million tons annually by 2010. B) The U.S. government imposed a tax on electric utilities to reduce damages from acid rain. C) The government issued electric utilities tradable emission allowances in order to reduce emissions of nitrogen oxide. D) In the 1980s the U.S. government required the installation of catalytic converters to reduce emissions from all new automobiles.