The design of tax policy is one of the responsibilities of economists who work at the
a. Council of Economic Advisers.
b. Federal Reserve.
c. Department of the Treasury.
d. Congressional Budget Office.
c
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Tobin's q is the ratio of the
A) dividend payments of a firm to the current stock price of the firm. B) market value of a firm to the replacement cost of its capital. C) current stock price of a firm to the number of outstanding shares of stock in the firm. D) current stock price of a firm to the total earnings of the firm.
The quantity of Blu-Ray players purchased declined in spite of a decline in price. This implies that the
a. supply curve for Blu-Ray players shifted to the left. b. demand curve for Blu-Ray players shifted to the right. c. demand curve for Blu-Ray players shifted to the left. d. supply curve for Blu-Ray players shifted to the right.
If a country has a current account deficit, which of the following must be true?
(a) It must also show a deficit in its capital account (b) It must show a surplus in its capital account (c) It must increase the purchases of foreign goods and services (d) It must increase the domestic interest rates of its bonds (e) It must limit the flow of foreign capital investment