The underlying principles behind the slashing of marginal tax rates in 1964 were Monetarist
a. True b. False
b
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The Farm Factory, a booth at the local Farmer's Market, sells fresh eggs for $1.50 per dozen and fresh milk for $2.50 per gallon. What is the opportunity cost of buying a gallon of milk?
A) 3/5 of a dozen eggs B) $1.50 C) 1 2/3 dozen eggs D) $2.50
Everything else held constant, an increase in the excess reserve ratio will mean ________ in the M1 money multiplier and ________ in the M2 money multiplier
A) an increase; an increase B) no change; an increase C) a decrease; a decrease D) no change; a decrease
Excess supply is:
A. the result of a price that is above equilibrium, causing the quantity demanded to exceed the quantity supplied. B. the result of a price that is below equilibrium, causing the quantity demanded to exceed the quantity supplied. C. the result of a price that is above equilibrium, causing the quantity supplied to exceed the quantity demanded. D. the result of a price that is below equilibrium, causing the quantity supplied to exceed the quantity demanded.
Who does not sit on the Federal Open Market Committee?
A. The president of the New York Federal District Bank B. The Chairman of the Federal Reserve Board C. The Secretary of the Treasury D. The members of the Federal Reserve Board