The largest expenditure of the U.S. Federal government is for
A. national defense.
B. pensions and income security.
C. education.
D. interest on public debt.
Answer: B
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If the Fed increases the discount rate, commercial banks pay a ________ interest rate if they borrow money from the Fed and will therefore ________
A) higher; borrow more money from the Fed and make more loans to consumers B) higher; deposit more money into their reserves at the Fed C) lower; borrow more money from the Fed and make more loans to consumers D) lower; borrow less money from the Fed and make fewer loans to consumers E) higher; borrow less money from the Fed and make fewer loans to consumers
Figure 6-9
In 1983, government price supports raised the price of sugar above its equilibrium value. Which graph in Figure 6-9 illustrates the impact of sugar price supports on the sugar substitute fructose?
A. 1 B. 2 C. 3 D. 4
On January 1, 2010, a homeowner borrowed $5,000 for a term of six months to complete some home improvements, paying an annual interest rate of 8 percent. How much principal and interest will the homeowner pay back on July 1, 2010?
a. $2,500 b. $2,900 c. $5,200 d. $5,400
All of the presidents of the regional Federal Reserve banks
a. attend each FOMC meeting. b. have voting rights at each FOMC meeting. c. are appointed by the president of the U.S. and confirmed by the U.S. Senate. d. All of the above are correct.