Inclusion of the Social Security Trust Fund in the overall budget calculation
a. reduces the reported size of the budget deficit because the Social Security system is currently running a surplus.
b. increases the size of the reported budget deficit because the Social Security system is currently running a deficit.
c. decreases the size of the reported budget deficit because the Social Security system is currently running a deficit.
d. increases the size of the reported budget deficit because the Social Security system is currently running a surplus.
A
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If real GDP is less than potential GDP, then the ________ and the price level ________
A) aggregate demand curve shifts leftward; rises B) aggregate demand curve shifts rightward; falls C) aggregate supply curve shifts leftward; rises D) aggregate supply curve shifts rightward; falls E) amount of potential GDP increases; falls
A policy to do nothing and allow the economy to self-correct or adjust without interference from the federal government is also called a(n) _______________ policy:
a. nonintervention b. active c. stabilization d. fixed rule
Which of the following is a liability of a bank and an asset of its customers?
a. deposits of its customers and loans to its customers b. deposits of its customers but not loans to its customers c. loans of its customers but not the deposits of its customers d. neither the deposits of its customers nor the loans to its customers
The purchase of Treasury securities by the Federal Reserve will, in general
A) not change the money supply. B) not change the quantity of reserves held by banks. C) increase the quantity of reserves held by banks. D) decrease the quantity of reserves held by banks.