Fiscal policy is determined by
A) the Federal Reserve.
B) the president and the Federal Reserve.
C) Congress and the Federal Reserve.
D) Congress and the president.
Answer: D
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The above figure shows the U.S. market for replacement cell phone batteries. Area B + area D is the
A) tariff revenue. B) decrease in consumer surplus due to the tariff. C) deadweight loss from tariff. D) increase in producer surplus due to the tariff. E) gain in total surplus due to the tariff.
The deep recession of 1973-1975 was mainly caused by
A) flawed technology that caused a drop in TFP. B) an unexplained drop in business optimism. C) slower money growth. D) higher oil prices.
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and real GDP in the context of the Three-Sector-Model? a. The quantity of real loanable funds per time period falls and real
GDP falls. b. The quantity of real loanable funds per time period rises and real GDP rises. c. The quantity of real loanable funds per time period rises and real GDP remains the same. d. The quantity of real loanable funds per time period and real GDP remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
The real value of any variable is its nominal value:
A. adjusted for inflation. B. holding the base constant. C. holding the basket constant. D. adjusting for income.