In 2010 and 2011, President Obama advocated deficit reduction through decreased spending while Republicans in Congress advocated increased taxation to achieve the same goal
a. True
b. False
Indicate whether the statement is true or false
False
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A normal good is a good for which the demand increases as income decreases, holding everything else constant
Indicate whether the statement is true or false
Large current account deficits imply large financial account surpluses
Indicate whether the statement is true or false
To decrease the money supply using the reserve requirements, what would the Fed typically do?
A. raise the reserve requirement for banks B. reduce the reserve requirement for banks C. make each bank voluntarily set its own reserve levels D. let each bank get less currency from the Treasury
The market for agricultural products such as wheat or corn would best be described by which market model?
A. Monopolistic competition B. Pure competition C. Pure monopoly D. Oligopoly