Questions from General Economics

Q: Congress and the president have control of the tax system and government

Congress and the president have control of the tax system and government spending. As a result, their policies will directly impact a) aggregate supply. b) aggregate demand. c) residual demand. d)...

Q: Nondiscretionary fiscal policy has its impact by a) magnifying the

Nondiscretionary fiscal policy has its impact by a) magnifying the economic ups and downs already occurring. b) purposefully adjusting interest rates. c) Congress focusing its constant attention on...

Q: Federal Reserve independence is a) completely fictitious. b

Federal Reserve independence is a) completely fictitious. b) totally complete. c) subject to Congress’s desire to keep it independent. d) subject to the Supreme Court’s desire to keep it independ...

Q: Mandatory spending implies spending that is a) required by a

Mandatory spending implies spending that is a) required by a previously passed set of laws. b) required by the U.S. Constitution. c) needed more than discretionary spending. d) off-limits for any...

Q: The $400 billion deficits of 2005 were a) accurately

The $400 billion deficits of 2005 were a) accurately forecast by the Office of Management and Budget in 2000. b) accurately forecast by the Office of Management and Budget in 2002. c) accurately f...

Q: Fundamentally, housing prices are a function of the home’s a

Fundamentally, housing prices are a function of the home’s a) location and amenities. b) amenities only. c) location only. d) interest rates only.

Q: The large increase in the Labor Force Participation Rate that occurred between

The large increase in the Labor Force Participation Rate that occurred between 1950 and 2000 was because a) women’s participation in the labor force doubled. b) men’s participation in the labor forc...

Q: In the past 40 years work stoppages have a) plummeted

In the past 40 years work stoppages have a) plummeted. b) remained constant. c) increased slowly. d) increased rapidly.

Q: The trends in U.S. international trade are such that

The trends in U.S. international trade are such that a) imports are increasing and exports are decreasing. b) imports are decreasing and exports are increasing. c) both imports and exports are decr...

Q: If one country determines it wants a fixed exchange rate with another

If one country determines it wants a fixed exchange rate with another a) it can do nothing on its own, it must have the cooperation of the other country. b) it only needs to announce its desired exc...