Which of the following is an example of a fiscal policy?
a. Raising the discount rate
b. Reducing the reserve requirement
c. Reducing government spending
d. Pegging the currency
c
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Capitalism and free enterprise are common, and the United States
A. has just begun to move in that direction after years of central planning. B. has gone further in that direction than almost any other country. C. is becoming more “free,” but is not as capitalistic as many others. D. is considering a major change to “free up” its economy as many others have. E. is leading the move toward greater central planning and control.
Using the data in the table above, if the price of a stapler is $8, then there is ________ of staplers, and the quantity of staplers demanded ________ the quantity of staplers supplied
A) a surplus; is greater than B) a surplus; is less than C) a shortage; is greater than D) a shortage; is less than E) neither a surplus nor a shortage; equals
With respect to the consumer price index, which of the following does not serve as an example of how the substitution bias arises? Between 2010 and 2011, the price of a pound of peanuts
a. rises from $0.80 to $1.00 while the price of a loaf of bread rises from $2.00 to $2.50. b. rises from $1.00 to $1.30 while the price of a loaf of bread rises from $2.00 to $2.30. c. remains constant, while the price of a loaf of bread rises from $2.00 to $2.30. d. falls from $1.00 to $0.80 while the price of a loaf of bread falls from $2.00 to $1.80.
Which of the following is most closely related to recessions?
A. Positive long-run economic growth. B. Rapid growth in the price level. C. Falling rates of unemployment. D. Negative real growth in output.