If Congress fails to pass a budget before the fiscal year starts, then federal agencies may continue to operate only if Congress has passed a:
A. balanced budget amendment.
B. deficit reduction plan.
C. conference resolution.
D. continuing resolution.
Answer: D
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The _____ account for about 60 percent of deposit and loan activity in the Eurocurrency market
a. ECUs b. U.S. dollar c. Euroyen d. Euros e. Eurodollars
According to Baumol and Blinder, the real-world multiplier will be smaller than 1/(1 ? MPC) because the 1/(1 ? MPC) measure is based on
a. a model that ignores inflation associated with the expansion of income. b. a model that ignores taxes that tend to change as income changes. c. a model that ignores the effects of international trade. d. all of the above.
Suppose in a certain city the demand for low-cost housing can be characterized by the equation P = 500 - 2Q, where Q is housing measured in square feet. Further, suppose that supply is characterized by the equation: P = 25 + 3Q.
(A) How much consumer surplus is there? (B) Suppose that a grant is given so that the supply of housing is increased. This increase changes the supply curve to P = 3Q. How much does consumer surplus change because of the grant?
All of the following reduce the transaction costs for consumers EXCEPT
A. eBay. B. a shopping mall. C. a grocery store. D. a court decision regarding product safety.