Refer to the figure below. Moving from demand curve D1 to demand curve D2 could be caused by a(n): 
A. increase in the price of a complement.
B. decrease in the product's expected future price.
C. increase in the price of a close substitute.
D. increase in quantity supplied.
Answer: C
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Open-market operation means buying and selling of ________ by the ________ in an effort to influence money supply
a. equity shares; president b. government securities; Fed c. mutual fund; government d. commodities; public
All of the following statements are correct EXCEPT:
A. There are unemployed people even during expansions. B. Economies grow steadily over time. C. A trade surplus exists when a country exports more than it imports. D. Unemployment increases during recessions.
As the economy declines into recession, the collection of personal income tax revenues automatically falls. This phenomenon best illustrates how a progressive income-tax system:
A. Increases crowding out in the economy B. Decreases real interest rates in the economy C. Offsets the timing problem for fiscal policy D. Serves as an automatic stabilizer for the economy
Government involvement in a market may generate more inefficiency than it cures.
Answer the following statement true (T) or false (F)