Discuss three core values of American political culture and how Americans tend to define each one

The Gramm-Rudman Act ______.

a. called for automatic 10 percent cuts on existing programs if Congress couldn’t move toward a balanced budget in a given year b. established the organizational structure of the House and Senate Budget Committees c. established a flat tax for those citizens who earn less than $10,000 per year d. gave the Federal Reserve the power to control monetary and fiscal policy e. created the Office of Management and Budget

The Federal Reserve has the ability to sell government securities such as U.S. Treasury bills, which

A. lowers interest rates. B. raises interest rates. C. puts more money into circulation. D. changes the discount rate for its member banks. E. Options A and C are true.