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economics review , please ?

Okay, so i need this done by tomorrow morning and I need and 80 or above to pass and get the credit. And I finished but it's 15 questions and I'm not asking for the answers, I'm just asking for help and let me know which ones I have wrong. Pleasseeee ?? The one with the arrows are my answers. 1. The Federal Reserve includes twelve city officials. governing bodies. regional banks <----. member offices. 2. Tariffs are both of the above taxes companies pay to import goods.<--- income taxes. neither of the above 3. Which of the following is not a function of money? It helps us express the value of a good or service. It provides a way to store value, or "purchasing power." It gives society a national symbol of pride.<--- It makes trading goods and services more efficient. 4. Since the United States has the absolute advantage at producing many goods, they should not trade for those goods but instead produce them all themselves. false<--- true 5. Economists believe that having some inflation is a healthy sign of economic growth. signal to political leaders to increase taxes. problem only for those living in poverty. warning sign of coming economic decline.<--- 6. Buying securities in open market operations may promote economic growth because this action increases banks' cash, allowing for more loans and investment.<--- the U.S. Congress allows the securities to be used for business expansion. this action decreases banks' cash, preventing risky investment behavior. the U.S. Congress guarantees the value of government securities. 7. Unemployment is on the rise though inflation is quite low. Gross Domestic Product is rising but more slowly than the goal rate. The Federal Reserve may buy government securities in open market operations in order to decrease the money supply and encourage people to save in difficult times. increase the money supply and encourage economic growth.<--- give consumers more money to open their own businesses. force the banks to stop giving out loans in an uncertain economy. 8. It would be least expensive to purchase goods with a personal loan. a credit card. cash.<--- a debit card. 9. Which investment produces a $40 daily profit for a game shop earning $2 profit from every game sold? vehicle with $120 daily operating cost, delivering 80 games per day electronic billboard with $20 daily operating cost, increasing sales by 20 games per day<--- inventory software with $10 daily operating cost, saving 30 games per day from theft game cleaning system with $5 daily operating cost, increasing sales by 15 games per day 10. Which plan would most quickly correct a budget deficit worth 15% of total spending? reduce spending on all government programs by 5% increase income taxes for all Americans by 5%<--- reduce the four largest spending categories by 20% increase spending on employment programs by 10% 11. As of 2009, an American worker earning minimum wage fails to earn a "living wage" for a family of four.<--- is able to afford a new car or home. can provide comfortably for a family of four. will lose the job when the economy slows. 12. Economists associate John Maynard Keynes with a market economy.<--- traditional economy. command economy. mixed economy. 13. The United States may have a tariff on cotton products from China in order to prevent Chinese manufacturers from losing profit because of low prices. express a political statement to the Chinese about their economic policies. promote sales in the United States of cotton products from China. protect the business of the American cotton growers and manufacturers.<--- 14. The Federal Reserve is responsible for monetary policy.<--- foreign policy. fiscal policy. federal budget. 15. What does the Fed sell when it wants to remove money from the economy? reserve Requirements discount Rates treasury Bills<--- preferred Stock

Asked By: - 12/19/2012
Best Answer - Chosen by Asker
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Answered By: pankaj - 12/19/2012
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