Open-market operations is the purchase and sale of U.S. government bonds by the Federal Reserve Bank.
Answer the following statement true (T) or false (F)
True
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If taxes and government expenses did not vary with income, then income would
A. be less stable. B. be more stable. C. not change. D. be closer to potential income.
Use the following data to answer the next question. The disposable income (DI) and consumption (C) schedules are for a private, closed economy (an economy with no government and no international trade). All figures are in billions of dollars.Disposable IncomeConsumption$0$88080160152240224320296400368The marginal propensity to save in this economy is
A. 0.9. B. 0.1. C. 0.8. D. 0.72.
A tax of 20 cents per unit of imported garlic is an example of a(n)
A) specific tariff. B) ad valorem tariff. C) nominal tariff. D) effective protection tariff. E) a disadvantageous tariff.
If the world price for good A is below the domestic price for good A without trade, then producer surplus will ________ and total economic surplus will ________ with trade.
A. increase; decrease B. increase; increase C. decrease; increase D. decrease; decrease