Large federal budget deficits:
a. can best be reduced by automatic stabilizers
b. make it difficult to use discretionary fiscal policy.
c. in the mid to late 1980s were the result of a severe recession.
d. constitute only about 1 percent of GDP.
e. have little to do with the growth of the federal debt.
b
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The government defines poverty as an income level less than four times the cost of a minimal diet
a. True b. False Indicate whether the statement is true or false
If a sizeable amount of U.S. currency is held outside of the United States,
a. the accuracy of the M2 money supply figures will be improved, but there will be no impact on M1. b. the accuracy of the M1 money supply figures will be improved, but there will be no impact on M2. c. the money supply figures, particularly those for M1, will be less reliable. d. the money supply figures of the U.S. will not be affected because the funds are held outside the U.S.