If government spending is $6.2 trillion while government revenue is $6.2 trillion, the government is said to have a
A) balanced debt. B) balanced budget. C) budget surplus. D) budget deficit.
B
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Refer to Figure 17-6. Salespeople would be indifferent to the two pay schemes if their monthly sales were
A) less than 20 vacuum cleaners. B) between 20 and 30 vacuum cleaners. C) between 30 and 45 vacuum cleaners. D) more than 45 vacuum cleaners.
A decrease in the excess reserves banks want to hold, together with people depositing currency into their demand deposit accounts, would: a. increase the money supply
b. decrease the money supply. c. leave the money supply unchanged. d. have an indeterminate effect on the money supply.
The idea that similar foreign and domestic goods, or baskets of goods, should have the same price when priced in terms of the same currency is called
A) equity. B) purchasing power parity. C) efficiency. D) the tragedy of the commons.
Beginning in the latter part of 1999, the Federal Reserve raised interest rates. What do you predict happened to the prices of bonds already in the market? How can you explain this behavior?