A justification for general grants is _____
a. the equalization of revenues between government units with different income levels
b. higher level governments might have a greater ability to raise revenue
c. progressive taxation cannot be done on the local level
d. a and b
d
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If U.S. monetary authorities want to strengthen the dollar, they will
a. sell dollars in the foreign exchange market b. buy dollars in the foreign exchange market c. declare the dollar devalued d. sell dollars and buy only Euros in the foreign exchange market e. encourage other central bankers to sell dollars in the foreign exchange market
In a simple macroeconomic model, only one component of expenditures is allowed to change:
a. investment. b. consumption. c. net exports. d. government spending. e. transfer payments.