Proponents of Fed independence maintain that
a. independence helps ensure low unemployment rates.
b. money is too important to be left to the bankers.
c. independence permits objective decisions not based on politics.
d. only the Federal Reserve knows how to act wisely.
c
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According to research by Robert Fogel, what proportion of the increase in the standard of living in Britain between 1790 and 1980 can be accounted for by greater caloric intake?
a. 10 percent b. 20 percent c. 30 percent d. 40 percent
Which of the following is an important real consequence of the public debt of the United States?
A. It will threaten to bankrupt the Federal government B. It discourages saving among the general public C. It decreases the inequality in the distribution of income in the U.S. D. Its consequent higher interest rates lead to fewer incentives to bear risk and innovate