An issue that generates substantial benefits to a small group of individuals while imposing a small cost on many others is called a
a. special-interest issue.
b. minority application.
c. commons policy.
d. national service.
A
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Everything else held constant, an increase in the currency ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Everything else held constant, increased demand for a country's ________ causes its currency to appreciate in the long run, while increased demand for ________ causes its currency to depreciate
A) imports; imports B) imports; exports C) exports; imports D) exports; exports
When an economy relies on specialization,
A) the economy will generally produce only one product. B) the economy will usually be heavily agricultural. C) each individual in the economy produces the goods or services for which he or she has relatively the best ability. D) each individual will be assigned by the government to produce that good or service the government believes the economy should specialize in.
The Federal Reserve pursued an expansionary monetary policy during 1964 in order to
A) pull the United States out of a deep recession. B) counteract the effects of a deep cut in federal income taxes. C) keep interest rates from rising. D) bring down the inflation rate.