Which of the following is NOT related to fiscal policy?
A. reducing the budget deficit
B. increasing government expenditures
C. decreasing marginal tax rates
D. passage of a new regulation on a specific industry
Answer: D
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From 1970 to 1998 the U.S. dollar
a. gained value compared to the Italian lira because inflation was higher in the U.S. b. gained value compared to the Italian lira because inflation was lower in the U.S. c. lost value compared to the Italian lira because inflation was higher in the U.S. d. lost value compared to the Italian lira because inflation was lower in the U.S.
If a dollar buys less coffee in the U.S. than in Kenya, then
a. the real exchange rate is greater than 1; a profit might be made by buying coffee in Kenya and selling it in the U.S. b. the real exchange rate is greater than 1; a profit might be made by buying coffee in the U.S. and selling it in Kenya. c. the real exchange rate is less than 1; a profit might be made by buying coffee in Kenya and selling it in the U.S. d. the real exchange rate is less than 1; a profit might be made by buying coffee in the U.S. and selling it in Kenya.