Which of the following is correct?
a. IM + X = G ? T
b. I + G + T = S + X ? M
c. I + G + X = S + T + IM
d. I + T + G = S ? X ? IM
c
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The political process by which fiscal policy is made
A) is relatively rapid, contributing to the effectiveness of fiscal policy. B) requires only that the president approve changes to the budget, a decision that takes several months. C) is efficient in reaching a decision within a year. D) is slow and results in a long time lag for fiscal policy.
An individual who arranges for buyers and sellers to exchange securities and earns a commission in return is a
A) dealer. B) auctioneer. C) broker. D) underwriter.
An example of a market subject to adverse selection would be:
A. the used car market. B. the insurance market. C. the financial market. D. All of these statements are true.
People will be likely to spend a higher percentage of any additional income when _____
a. they believe that the increase is permanent b. they believe that the increase is temporary c. the increase is large d. the increase is small e. interest rates on savings accounts are rising