Discretionary Fiscal Policy differs from Nondiscretionary Fiscal Policy in that
A. the former is built into the system, whereas the latter requires timely decisions.
B. the former requires timely decisions, whereas the latter is built into the system.
C. the former deals with interest rates, and the latter deals with tax policy.
D. the former deals with tax policy, and the latter deals with interest rates.
Answer: B
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Countries that typically run a trade surplus are:
A. China, Germany and the US. B. China, Germany, and Japan. C. Japan, Germany and the US D. China, Japan, and the US.
A price ceiling represents
A) a maximum price that can be legally charged for a product or service. B) a minimum price that can be legally charged for a good or service. C) a lottery imposed upon producers by the government. D) a first come, first served mechanism for controlling prices.
Refer to the data. If this bank has excess reserves of $6 million, the legal reserve ratio must be:
Answer the question on the basis of the following balance sheet for the First National Bank of Bunco. All figures are in millions.
A. 10 percent.
B. 12 percent.
C. 14 percent.
D. 20 percent.
The above figure shows Sam's budget line and one of his indifference curves. What combination of coffee and gasoline will Sam select?
A) combination a because that contains all the gasoline he needs and still has some coffee B) combination c because that contains all the coffee he needs and some gasoline C) combination b because it is on his budget line and on the highest attainable indifference curve D) none of the above