Federal Reserve Notes are
A. the currency part of the United States money supply.
B. United States government securities owned by the Fed.
C. the backing for all bank account balances.
D. used exclusively by the government to pay off its debt.
A. the currency part of the United States money supply.
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If a macroeconomic model consists of upward-sloping short-run aggregate supply and downward-sloping aggregate demand, can it possibly generate a constant real GDP with no business cycles over time?
A) No, only a vertical short-run aggregate supply curve can produce that result. B) No, only a horizontal short-run aggregate supply curve can produce that result. C) Yes, but the short-run aggregate supply curve must never shift. D) Yes, if the aggregate demand and short-run aggregate supply curves shift in perfect unison.
A . Explain the difference between a closed shop and a union shop. b. Which of these would firms prefer? Why? c. Which of these would unions prefer? Why?
If the revenues and expenditures of the Social Security trust fund were not included when calculating the budget deficit, the recalculated deficit would
a. be larger. b. be smaller. c. be unchanged. d. actually be a surplus.
To answer the "HOW" to produce question, society should:
A. Use all the available labor. B. Maximize the quantity of all resources used. C. Find an optimal method of producing goods and services. D. Attempt to produce a combination of goods and services beyond the production possibilities.