Which of the following is part of non-defense discretionary spending?
A. Social Security
B. Medicare
C. Interest on the debt
D. Education and training
Answer: D
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Answer the following statements true (T) or false (F)
1. More than 50 percent of commercial banks in the United States belong to the Federal Reserve System. 2. If the Fed desires to increase check able deposits, it may lower the reserve requirement. 3. If the Fed desires to expand the money supply, it will raise the discount rate. 4. By buying government securities, the Federal Open Market Committee adds to member banks’ reserves. 5. The greater the level of excess reserves, the lower the Federal Funds rate will be.
Warren Buffett feared gaining weight. To keep himself from eating too much, he gave unsigned checks for $10,000 to his children, promising to sign them if he exceeded his desired weight by a certain date. This is an example of:
A. sunk costs. B. an abductive decision. C. an inductive decision. D. a precommitment strategy.
The aggregate supply curve shows the:
a. Direct relationship between the price level and real GDP purchased b. Direct relationship between the price level and real GDP produced c. Inverse relationship between the price level and real GDP purchased d. Inverse relationship between the price level and real GDP produced
Discuss some of the implications of rational expectations
What will be an ideal response?