Using trade restrictions to protect special interests such as the U.S. auto industry
A) results in lower prices for U.S. auto consumers.
B) raises the prices that U.S. consumers must pay for autos.
C) is a very cost-efficient way of dealing with trade problems.
D) is the best long-term solution for threatened U.S. jobs.
B
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Which of the following is NOT an accurate description of open market operations prior to 2008?
A) It was used to affect the market for bank reserves. B) It was used to control the federal funds rate. C) It involved buying and selling of short-term Treasury securities. D) It involved buying and selling long-term securities.
Incrementalism describes the notion that _____
a. an agency's budget increases a small amount each year b. only one or two new programs are added to the budget every year c. government employees should only receive a cost-of-living adjustment annually d. government is slow to act because it is politically difficult to do so
The slope of the consumption function is also known as
a. the consumption ratio b. the average propensity to consume c. autonomous consumption spending d. the marginal propensity to consume e. multiplying propensity to consume
Which statement is true?
A. Banking began in biblical times. B. Most banks do NOT have national charters. C. Bankers would like to hold a reserve ratio of about 10 percent. D. About half the banks in the United States are members of the FDIC.