intro chap 2

identify a true statement about the debt ceiling

Voting on the debt ceiling happens separately from voting on taxes and spending.

In the context of monetary policy, when the economy is weak, the fed...

buy government securities on open market

in the context of economic systems, the two key phases of a business cycle are

contraction and expansion

ukanturk

fiscal policy

Troboli is a North American country

gross domestic product

irkholm

hyperinflation

which of the following is a difference between inflation and deflatoin

inflation is a period of rising average prices across an economy, where deflation is a period of falling averges prices across the country

In the context of mixed economies, which of the following statements is true of the U.S. federal government?

it is part owner in a number of financial institutions

identify a true statement about the federal reserve

it manages the monetary policy of the united states

Prior to formulating its annual budget, the government of the Asian country of Florenesia

macroeconomics

which is the part of economics concerned with single factors and the effects of individual decisions

microeconomics

which of the following is an example of a natural monopoly

public utilities

The economy of Sutanvia is under severe financial distress. However, over the last few months, the economy has gradually picked up, and employment levels are slowly rising back to normal levels. Consumers are also beginning to engage in regular buying activities. In this scenario, the economy of Sutanvia is currently in the _____ phase of its business cycle.

recovery

in a business cycle the ___ is the transition period between contraction and expansion

recovery

the board of governors of the federal holds a meeting

reduce the discount rate

government of bakhraan

socialism

gregory was a typist at a corporate firm

structural unemployment

economics is

study of choices made by people, companies, and government to allocate societies resources

During a period of grave financial crisis in the United States, Congress is pressurized to raise the limit on the maximum amount of money the government can borrow. Congress increases the limit on the condition that it will implement sharp tax hikes and across-the-board spending cuts to compensate for the raise and to ensure that the overall budget deficit decreases. In this scenario, the measures implemented by Congress will most likely create:

the fiscal cliff

central banking system in the country of darmos issues a notice

the reserve requirement

identify a true statement about pure market economies

they do not make sufficnet provison for the old, the younf, and the sick