Spending on programs that Congress authorizes ________ is known as discretionary spending
A) after approval from the Federal Reserve B) on an off-budget emergency basis
C) by prior law D) on an annual basis
D
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Cashing out capital gains in Virtual Currency System #3 (i.e., turning virtual capital gains into real world currencies) causes the nation's:
a. Monetary base to rise. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to remain the same.
Your purchase of a Gucci purse made in Italy would be classified as:
A. an export. B. an investment good. C. a durable good. D. an import.
The owner of a patented invention
A. is guaranteed a profit since her idea cannot be copied. B. will only earn a profit if average total cost is less than price. C. will always have demand high enough and costs low enough to ensure a profit. D. may or may not have a legal monopoly.
When supply falls and demand remains the same, equilibrium price _______ and equilibrium quantity __________.
Fill in the blank(s) with the appropriate word(s).