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Unformatted text preview: ongres s and the pres ident
2. The direc tor of the Offic e of Budget and Management and the Sec retary of State
3. The Sec retary of the Treas ury and Congres s
4. The pres ident and the Counc il of Ec onomic Advis ers
5. The Federal Res erve
Que stion 20 (1 point)
Ac c ording to the tex t, there are s ignific ant differenc es between the mark et s y s tem and
the c entrally planned s y s tem. All of the following are differenc es ex c ept
1. private individuals s tarting new bus ines s es .
2. private owners hip of land.
3. private owners hip of bus ines s es .
4. the ex is tenc e of a government.
5. private c hoic es and purc has es of goods and s ervic es .
Que stion 1 (5.00 points ) Carefully analy z e the c ons equenc es of a s udden trade defic it in the private-s ec tor
c irc ular flow diagram. W hat role would financ ial intermediaries have to play in order to
res tore equilibrium c onditions ?
Que stion 2 (5.00 points )
Ex plain why and how the government tak es a role in the ec onomy ....
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This homework help was uploaded on 03/18/2014 for the course ECON 2010 taught by Professor Staff during the Spring '08 term at Utah Valley University.
- Spring '08