Fiscal Policy is controlled by
A. Congress and the President.
B. private banks.
C. the Supreme Court.
D. the Federal Reserve Board.
Answer: A
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Decisions to determine the government's budget are called:
A. fiscal policy. B. structural policy. C. trade policy. D. monetary policy.
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
When you deposit funds in a bank and then the bank lends these funds to a borrower, the bank is engaged in
A) fiduciary investment.
B) fraudulent behavior.
C) universal banking.
D) financial intermediation.
The transactions demand for money is
a) positively related to aggregate income b) positively related to interest rate c) negatively related to the price level d) all of the above