The remarkable fact about the structural deficit after 1983 was that it was
A. very high.
B. very small for a period of economic recovery.
C. very high during peacetime.
D. high during Republican administrations.
Answer: C
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In times of recession, to encourage banks to provide loans in the economy, the Fed will
a. raise the legal reserve requirement b. raise the margin requirement c. cut taxes and increases government spending d. lower the discount rate e. buy stock on the federal funds market
Which of the following attitudes will be held by a typical firm in a typical cartel?
A. If I alone cheat, I’m better off; if everyone cheats, I’m worse off. B. I can never do better for myself than by following agreed-upon cartel policies. C. If everyone cheats, I’m better off and so is everyone else in the cartel. D. If I suspect others are planning to cheat, I’ll do best for myself by deciding not to cheat.