The Fed's portfolio of securities consists principally of
A) municipal bonds.
B) corporate bonds.
C) U.S. Treasury obligations.
D) obligations of foreign governments.
C
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The vertical long-run Phillips curve
a. indicates the permanent unemployment rate b. indicates the unemployment rate at the optimal level of GDP c. is only one of several vertical curves that together are called interest rate targets d. indicates the economy's natural rate of unemployment e. is more socially desirable than a horizontal Phillips curve would be
The basic reason for the multiplier effect is that when you spend money,
A. another person receives income. B. another person must pay for it. C. your money balances are reduced. D. your net worth decreases.
In the long run, an expansionary monetary policy will lead to _____
Fill in the blank(s) with the appropriate word(s).
(Consider This) From an economist's perspective, when is government too big?
A. Government is always too big. B. When government activity exceeds 10 percent of gross domestic product. C. When the marginal costs from additional government spending exceed marginal benefits. D. When the marginal benefits from additional government spending exceed marginal costs.