question archive Question 31) The annual federal budget is decided upon by the Group of answer choices United States Congress and the Federal Reserve System
Question 31) The annual federal budget is decided upon by the Group of answer choices United States Congress and the Federal Reserve System
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Question 31) The annual federal budget is decided upon by the
Group of answer choices
United States Congress and the Federal Reserve System.
President of the United States and the United States Treasury.
President of the United States and the Federal Reserve system.
the United States Treasury alone.
President of the United States and the United States Congress.
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Question 32
2 pts
In the long-run, an increase in the national debt is "bad" because it
Group of answer choices
stimulates aggregate demand.
causes crowding in.
causes interest rates to decline.
usually leads to an increase in interest payments made by the federal government.
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Question 33
2 pts
If the federal government has a budget surplus, then it is definitely the case that
Group of answer choices
revenues exceed government outlays.
government outlays exceed revenues.
revenues are rising and government outlays are falling.
revenues and government outlays are equal.
revenues are falling and government outlays are rising.
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Question 34
2 pts
If we look at the federal government budget over the past 40 years we see that
Group of answer choices
most years the budget has been in deficit.
the government has been running a budget deficit since 1997.
only occasionally has the budget been in deficit.
most years the budget balance has not been calculated.
most years the government budget has been balanced.
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Question 35
2 pts
The Federal Reserve System has all of the following goals EXCEPT
Group of answer choices
economic growth.
interest rate stability.
maximize bank profits.
exchange rate stability.
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Question 36
2 pts
The Federal Reserve System regulates the money supply using all the following tools EXCEPT
Group of answer choices
buying and selling US government securities.
setting the discount rate.
setting bank reserve requirments.
making low interest loans directly to businesses and individuals.
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Question 37
2 pts
The functions of money are
Group of answer choices
medium of exchange, unit of account, and store of value.
store of value, use as a barter mechanism, and unit of account.
medium of exchange, the ability to buy goods and services, and checking accounts.
credit cards, checking accounts, currency, and coins.
medium of exchange, the ability to buy goods and services, and the ability to pay off debts.
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Question 38
2 pts
The medium of exchange is defined as
Group of answer choices
barter.
an object that is accepted as payment for goods and services.
the exchange of goods and services directly for other goods and services.
an agreed upon measure for stating prices of goods and services.
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Question 39
2 pts
The unit of account is defined as
Group of answer choices
barter.
an object that is accepted in return for goods and services.
the exchange of goods and services directly for other goods and services.
the medium of exchange.
an agreed upon measure for stating prices of goods and services.
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Question 40
2 pts
Federal Reserve banks often make loans to regular banks. The interest rate Federal Reserve banks change these banks for those loans are typically __________ the interest rate that those banks charge the customers to which they make loans.
Group of answer choices
equal to
less than
greater than
