Which of the following is a normative statement?
A) The Gross Domestic Product is the dollar value of all goods and services produced in a country in a year.
B) Fiscal policy is determined by the Congress and the president.
C) Tax cuts ought to be enacted for the good of the economy.
D) Monetary policy is determined by the Federal Reserve System.
Answer: C
Economics
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Which of the following is correct?
a. Over the business cycle investment fluctuates more than consumption. b. Economic fluctuations are easy to predict. c. During recessions employment rises. d. Because of government policy the U.S. had zero recessions in the last 25 years.
Economics
Approximately how many commercial banks are now operating in the United States?
A. About 7,300. B. About 6,000. C. About 8,500. D. About 6,800.
Economics