Which of the following statements is true?
A. Both the debt and the deficit or surplus are flow measures.
B. The debt is a flow measure and the deficit or surplus is a stock measure.
C. The debt is a stock measure and the deficit or surplus is a flow measure.
D. Both the debt and the deficit or surplus are stock measures.
Answer: C
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Monetary policy:
A. is the use of tax increases or cuts designed to change the amount of money available for spending. B. is the use of audits to make certain that banks follow bank policy. C. is the use of money and credit controls to influence macroeconomic activity. D. exists only in textbooks and has no applicability to the "real world." Monetary policy is the use of money and credit controls to influence macroeconomic activity.
The National Industrial Recovery Act (1933)
(a) did not permit businesses to set prices and production quotas. (b) established three advisory boards composed of government, Webb-Pomerene firms and members of the Federal Reserve System. (c) was thrown out by the Supreme Court in May 1935. (d) prohibited collective bargaining.