Between March 2001 and November 2002, the Fed reduced the federal funds rate from 5 percent to just above 1 percent. The Fed's purpose was to:
A. prevent rising inflation.
B. reduce the public debt.
C. promote recovery from recession.
D. strengthen the international value of the dollar.
C. promote recovery from recession.
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Microeconomics includes the study of
A) how countries decide to fund their budget deficits. B) the choices that individuals and businesses make. C) how a nation promotes economic growth. D) the effect on the national economy of the choices that individuals make. E) the overall amount of production within the economy.
The 2002 tax reform is a good example of special interests being less influential because Congress was considering comprehensive tax reform
a. True b. False
When a profit-maximizing firm in a competitive market has zero economic profit, accounting profit
a. is negative. b. is at least zero. c. is also zero. d. could be positive, negative or zero.
Which of the following is a transfer payment?
A. the president's salary B. veterans' benefits C. the NASA budget D. schoolteachers' salaries