When did the United States register its lowest unemployment rate?
A. at the end of World War II
B. in the 1920s
C. 2020
D. the decade following 2007
Answer: A
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A combination of Fed purchases of government securities and an increase in reserve requirements would: a. increase the money supply
b. decrease the money supply. c. leave the money supply unchanged. d. have an indeterminate effect on the money supply.
Marco earns more than Antonio. A legislator proposes taxing Marco to supplement Antonio's income. A libertarian would view this proposal as
a. a way to improve the welfare of all in society. b. a way to enhance Antonio's income in a socially responsible way. c. validation of the role of diminishing marginal utility over the maximin criterion. d. an inappropriate role for government, since government should not redistribute income.
Social Security payments are indexed for inflation using
a. the CPI. b. the PPI. c. the GDP deflator. d. real interest rates.
Which of the following is true about the percent of total income all levels of government in the U.S. take as taxes?
a. In 1902 the government collected about 7 percent of total income. In recent years, it collected about 30 percent of total income. b. In 1902 the government collected about 30 percent of total income. In recent years, it collected about 7 percent of total income. c. In 1902 the government collected about 7 percent of total income. In recent years, it collected about 7 percent of total income. d. In 1902 the government collected about 30 percent of total income. In recent years, it collected about 30 percent of total income.