What is the maximum number of voting members of the FOMC?
A) 12 B) 4 C) 11 D) 7
A
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Which of the following factors will NOT cause a shift in the demand for a good?
A) A change in consumer incomes B) A change in the market price of the good C) A change in the number of consumers D) A change in tastes and preferences
The responsibility of paying for the Social Security benefits for currently retired individuals falls on
A) current and future workers. B) the retired people themselves. C) no one, since the government prints the money. D) only working people over 50 years of age.
The aim of supply-side economics is to: a. increase government spending to stimulate aggregate supply
b. stimulate exports to increase the balance of payments. c. decrease wages to make production cheaper. d. lower taxes to increase the supply of resources. e. reduce both the inflation and unemployment problems through increases in taxes.
If the average worker's productivity is $12 per hour and the labor force is employed for 600 billion hours, GDP is equal to
A. $612 billion. B. $50 billion. C. $588 billion. D. $7.2 trillion.