The goals of monetary policy tend to be interrelated. For example, when the Fed pursues the goal of ________, it also can achieve the goal of ________ simultaneously
A) high employment; economic growth
B) stability of financial markets; a low current account deficit
C) high employment; lowering government spending
D) economic growth; a low current account deficit
A
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Black markets can occur when price ceilings are imposed in a market. Which of the following explains why sellers participate in a black market?
A) Sellers are able to sell the product for a higher than legal price. B) There are more buyers in the black market than in the legal market. C) The demand is perfectly elastic in a black market. D) The demand is perfectly inelastic in a black market. E) The surplus in the legal market means that many sellers can sell their product in the black market.
The U.S. Department of Health and Human Services refused to allow waivers to individual states to amend the provisions of the Family Support Act
Indicate whether the statement is true or false
An example of a positive economic statement is, "An increase in the price of a product causes consumers to purchase more of that product."
a. True b. False
To the extent that oligopolies differentiate their products,
A. there is overproduction from society's point of view. B. they are also likely to price at marginal cost. C. there is the promise of new and exciting products. D. they force themselves into deadlocks that waste resources.