Newly issued U.S. Treasury Securities are sold in:
A. only to the Federal Reserve who then resells them.
B. secondary markets but only using registered bond dealers.
C. the secondary market since bonds cannot be sold in the primary market.
D. the primary financial market.
Answer: D
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When macroeconomic policies are not coordinated,
A) macroeconomic policies will not be effective. B) expansionary policies in one country are likely to increase global imbalances. C) worldwide recessions are likely. D) low-income countries cannot grow.
In the area of taxation, the trade-off between equity and efficiency
a. never occurs since efficient taxes are often the most progressive. b. is relevant as efficient taxes are often regressive. c. is irrelevant. d. is relevant because efficient taxes are often progressive.