If there was a federal budget surplus it would make it possible to
A) decrease taxes in order to improve the equity and efficiency of the tax system.
B) increase spending on priorities.
C) reduce the national debt.
D) any of the above.
D
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In the diagram below, label the x-axis, the y-axis, and the origin
What will be an ideal response?
Hyperinflations are associated with governments printing money to finance expenditures
a. True b. False Indicate whether the statement is true or false
Suppose that the price of chicken rises sharply compared to the price of turkey. In response, consumers buy more turkey and less chicken than they did in the CPI base year. In this situation the CPI will tend to ________ inflation as a result of ________ bias.
A. overstate; quality adjustment B. accurately measure; substitution C. overstate; substitution D. understate; substitution
Suppose the banking system currently has $300 billion in reserves, the reserve requirement is 5 percent, and excess reserves are $30 billion. What is the level of loans?
a. $270 billion
b. $5,400 billion
c. $6,000 billion
d. $5,100 billion