"If Congress cuts income taxes, demand for output is likely to increase" is a ________ statement about ________ policy.
A. positive; monetary
B. normative; fiscal
C. normative; monetary
D. positive; fiscal
Answer: D
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According to new growth theory, the accumulation of ________ capital is subject to diminishing returns at the ________ level, but not at the level of the economy as a whole
A) technological; personal B) knowledge; firm C) physical; production D) physical; firm
A default premium is the interest rate premium
A) under normal market circumstances. B) when there are no market fluctuations. C) covering the default risk. D) for government debt.
Fractional reserve banking has three crucial features: bank profitability, bank discretion over the money supply, and bank exposure to runs.
Answer the following statement true (T) or false (F)
Applying for a loan in five-person groups is an example of:
A. trade-off. B. group responsibility. C. party of five lending. D. family and friends lending.