Fiscal policy takes _____ to implement than monetary policy because ______.
a. a longer time; the FOMC meets much more often than Congress
b. a longer time; Congress must debate and agree on the action
c. a shorter time; Congress meets much more often than the FOMC
d. a shorter time; the FOMC cannot act without congressional approval
b. a longer time; Congress must debate and agree on the action
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The above figure shows the U.S. market for replacement cell phone batteries. With free trade, the United States imports ________ batteries and once the tariff illustrated in the figure is imposed, the United States imports ________ batteries
A) 900,000; 700,000 B) 800,000; 400,000 C) 300,000; 100,000 D) 700,000; 300,000 E) 900,000; 100,000
Suppose that 1983 is the base year for the Consumer Price Index (CPI) and in 2015 the CPI was 226. What does this "226" mean?
A) What cost $100 in 1983 on average cost 226 times as much in 2015. B) What cost $100 in 1983 on average cost $226 more in 2015. C) What cost $100 in 1983 on average cost 100/226 (or 0.44 ) times as much in 2015 (that is, it will cost $22 in 2015). D) What cost $100 in 1983 on average cost $126 more in 2015.