Standards or principles
a. norms
b. values
c. rules
d. status quo
Ans: b. values
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If elected officials prefer policy actions that make benefits available quickly while deferring costs, they will be inclined to favor
A) an easier monetary policy to counter recession. B) increased appropriations to provide jobs for unemployed workers. C) a wage and price freeze to control inflation. D) all of the above. E) none of the above.
Goodyear Tire and Rubber Company and the United Steelworkers recently
A. ended a bitter strike. B. went to arbitration to avert a strike. C. agreed to major concessions including a wage freeze, job cuts, plant upgrades, and limited imports. D. agreed to large pay increases tied to productivity gains.
A headline reads: "Fed Raises the Federal Funds Rate by Half a Point." The content of this headline indicates that monetary policy is:
a. Becoming more restrictive b. Becoming more expansive c. Being reinforced by a change in fiscal policy d. Being offset by a change in fiscal policy
The claims of nonowners of a bank against the bank's assets are called:
A. net worth. B. liabilities. C. required reserves. D. loans.