The fact that the president must ask Congress for the authority to cut taxes is an example of
A. A rational expectations problem.
B. An implementation problem.
C. A measurement problem.
D. A goal conflict.
Answer: B
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When the Federal Reserve increases the federal funds rate, bank loans ________, the supply of loanable funds ________, and the real interest rate ________
A) increase; increases; falls B) decrease; decreases; rises C) increase; increases; rises D) do not change; decreases; rises E) decrease; does not change; rises
Over the course of the twentieth century, the typical American
A) remained equally as rich. B) became twice as rich. C) became five times as rich D) became eight times as rich.
Private goods are:
A. not rival in consumption, but excludable. B. rival in consumption and excludable. C. rival in consumption, but not excludable. D. not rival in consumption and not excludable.
The official poverty rate for the United States is currently set at ____ times the cost of providing a nutritionally adequate diet
a. two b. three c. five d. eight