Fiscal policy is defined as
A) the discretionary changing of government expenditures and/or taxes to achieve national economic goals.
B) the design of a tax system to transfer income from the rich to the poor.
C) the use of the taxing power of the government to redistribute wealth in a socially acceptable manner.
D) the use of Congressional power to pursue social and political goals.
A
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If the Fed wants to increase the value of the dollar, it will
A) sell foreign securities and buy dollars in international currency markets. B) buy foreign securities and sell dollars in international currency markets. C) buy foreign securities and also buy dollars in international currency markets. D) sell foreign securities and also sell dollars in international currency markets.
Mary says, "You would have to pay me $50 to attend that pro wrestling event." For Mary, the marginal utility of the event is:
A. zero. B. positive, but declines rapidly. C. negative. D. positive, but less than the ticket price.
If the price of hotdogs increases by 10 percent and the quantity supplied by meat packing companies increases by 15 percent, what is the price elasticity of supply?
A) 1.65 B) 1.20 C) 0.67 D) 1.50
A country's actual output ________ its potential output.
A. can only temporarily exceed B. is always be approximately equal to C. can never fall below D. can never exceed