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Economics

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Kathryne Hintz

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What technology do lawyers use

Computers, telephones, internet, and other office technology but they probably also use cars, planes and household technologies

What is the crowding-out effect

A situation when increased interest rates lead to a reduction in private investment spending such that it dampens the initial increase of total investment spending is called crowding out effect

An accurate statement about achieving a balanced budget would be that

most states require a balanced budget for state spending

Which of the following is an argument in favor of lowering the levels of personal income tax

consumers will spend more money in the market.

Which of the following tools is an example of monetary policy

the government restricts the amount of money that banks can lend.

A supply-side economist would be in favor of what

Cutting Taxes

Who believed that the government should influence the economy

john maynard keynes

The federal budget is put together

by congress and the whitehouse

In the United States what does the general level of a family's income have to do with the amount of cash the family is likely to hold

In America, it is accepted that the more money someone makes, the more they should have in savings or invested. This may not always be the case, but it is believed to be.

When the Fed buys government bonds and other securities on the open market

Open-market operations

What is the abbreviation for the research arm of the federal reserve

FAC (Federal Advisory Councel)

Which of these statements is fundamental part of keynesian economics

The government can use deficit spending to increase aggregate demand and pull the economy out of recession.

How do you change federal funds rate

The federal funds rate is the interest rate banks charge on loans in the federal funds market. The federal funds rate is not set administratively by the Fed. Instead, the rate is determined by the supply of reserves relative to the demand for them.

How much did the French government spend servicing it's debt in 1789

20 trillion american dollors in debt.

What does a fractional reserve banking system mean

ensures growth in the economy

What can be expected when members of the baby boom generation begin to retire in large numbers

increased deficits

The federal budget process begins with

Federal agency estimates

What is the federal reserve best known for

For regulating the nations money supply

Who appoints the members of the Board of Governors of the Federal Reserve

the U.S. President

If the Fed were to impose a slight increase in the required reserves ratio there would be .

If the Fed were to impose a slight increase in the required reserves ratio, there would be _____.

After the fall of the economy in 1929, what did classical economists believe to be the solution to the Great Depression

wait for the economy to achieve equilibrium

The Laffer curve predicts the effects of changes in the tax rate on which of the following

tax revenues

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