Monetary policy actions are determined by the
A. President of the United States.
B. New York Federal Reserve Bank.
C. Federal Open Market Committee.
D. all of these
Answer: C
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Refer to Figure 15-11. Suppose the local government imposes a $2.50 per month tax on cable companies. What happens to the price charged by the cable company following the imposition of this tax?
A) The price rises from PM but it increases by an amount greater than $2.50 to reflect the monopoly's markup. B) The price remains at PM. C) The price rises from PM but it increases by an amount less than $2.50. D) The price rises from PM to (PM + $2.50).
When a decrease in one or more components of private spending completely offsets an increase in government spending, there is
A) incomplete crowding out. B) zero crowding out. C) complete crowding out. D) complete crowding in. E) either c or d
A relaxation of U.S. immigration laws and regulations would
a. further reduce wages in poorer countries b. turn some permanent resource differentials into temporary ones c. increase the demand for labor in the United States d. turn some temporary resource differentials into permanent ones e. increase the supply of labor in poorer countries
If potential output exceeds actual output, eventually:
A. input prices will rise and output will fall. B. input prices will fall and output will rise. C. both input prices and output will fall. D. both input prices and output will rise.