A “liberal” would most likely argue in favor of
A. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
B. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary.
C. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary.
D. spending increases when fiscal expansion is necessary, and tax increases when fiscal restraint is necessary.
Answer: D
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A graph shows the price of a pound of cucumbers on the vertical axis and the quantity of new cars sold by GM on the horizontal axis. The price of a pound of cucumbers remains constant as the quantity of new cars sold increases
The graph of these data is A) a horizontal line. B) a vertical line. C) a curve with a maximum. D) a positively-sloped line.
The supply function
A. does not include technology. B. shows the relationship between the quantity supplied of X and variables other than its price. C. recognizes that the quantity of a good produced depends on its price and supply shifters. D. describes how much of good X will be produced at an alternative price of good X, given all the other variables being constant.
The federal funds rate is the interest rate for
A. Interbank reserve loans. B. Reserves borrowed from the Fed. C. Money lent to a bank's best business customers. D. Reserves lent by banks to the Fed.
The biggest difference between traditional sports gambling and daily fantasy is
A. daily fantasy bets are always legal. B. traditional sports gambling bets are all settled are clearly observable from the outcome of an event, whereas daily fantasy is settled based on a points formula. C. daily fantasy is always settled in a day, whereas traditional sports gambling bets take a whole season. D. daily fantasy bets are much smaller bets.