Fiscal federalism
A. is uncommon in the United States.
B. involves grants between levels of government.
C. relies on balanced budgets.
D. is administered by the Federal Reserve.
Answer: B
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An individual holds $10,000 in a non-interest-earning checking account, and the overall price level rises significantly. Other things being constant, we would expect
A) the individual's real wealth to decrease and consumption to decline. B) no change in the individual's real wealth but a decline in real national product. C) the individual's stock of real wealth to decrease but real national income to increase. D) the individual's wealth to increase.
Why is the foreign exchange market so vital?
What will be an ideal response?
According to the Keynesian transmission mechanism (and assuming there is no liquidity trap and investment is not interest insensitive), if the money supply increases, the interest rate __________, investment spending __________ and the AD curve shifts to the __________
A) falls; falls; left B) rises; rises; right C) falls; rises; left D) falls; rises; right E) rises; falls; right
Unseasonably warm weather in Georgia resulted in a bumper crop of peaches. Ceteris paribus,
A. the supply of peaches increased and the price of peaches decreased. B. the supply of peaches decreased and the price of peaches increased. C. the demand for peaches increased and the price of peaches increased. D. the demand for peaches decreased and the price of peaches decreased.