The Federal Reserve System is an:
Agency ran by popularly-elected officials
Agency that is under the direction of the President
Agency that is controlled by Congress
Independent agency of government
Independent agency of government
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When a nation exports a good, its ________ surplus increases and its ________ surplus increases
A) consumer; total B) consumer; consumer C) producer; producer D) producer; total E) total; consumer
To accurately draw a labor supply curve, there should be a relationship between _______ and __________.
A. the wage rate; utility B. total expenditures; the wage rate C. the wage rate; hours worked D. taxes; utility
If net exports decrease by 250 and the mpc is 0.75, equilibrium aggregate output
A) increases by 1000. B) increases by 750. C) decreases by 750. D) decreases by 1000.
Periodic fluctuations in GDP are called business cycles
a. True b. False