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Chapter 2 Thinking Like an Economist




Question;47. In addition to advising;the president, one duty of the Council of Economic Advisors is to;a.;prepare;the federal budget.;b.;write;government regulations.;c.;advise;Congress on economic matters.;d.;write;the annual Economic Report of the President.;48. The Economic Report of the President;a.;discusses;recent developments in the economy and presents analysis of current policy;issues.;b.;is;written by the Council of Economic Advisers.;c.;is the;responsibility of the economists at the Office of Management and Budget.;d.;Both a;and b are correct.;49. Economists at which of the following offices help formulate;spending plans and regulatory policies?;a.;Office;of Management and Budget;b.;Department;of the Treasury;c.;Congressional;Budget Office;d.;The;Federal Reserve;50. Economists at the Department of the Treasury;a.;design;U.S. currency and coins.;b.;provide;Congress with the annual budget.;c.;enforce;the U.S. antitrust laws.;d.;provide;advice on tax policy to the President.;51. The president of the United States receives tax policy advice from;economists in the;a.;Federal;Reserve.;b.;Department;of Justice.;c.;Department;of the Treasury.;d.;Congressional;Budget Office.;52. The design of tax policy is one of the responsibilities of;economists who work at the;a.;Council;of Economic Advisers.;b.;Federal;Reserve.;c.;Department;of the Treasury.;d.;Congressional;Budget Office.;53. A duty of economists at the Department of Labor is to;a.;analyze;data on workers.;b.;schedule;federal holidays.;c.;enforce;the nation's antitrust laws.;d.;All of;the above are correct.;54. Analysis of data on workers and those looking for work is conducted;by economists at the;a.;Office;of Management and Budget.;b.;Department;of Labor.;c.;Congressional;Budget Office.;d.;Department;of the Treasury.;55. Economists at the Department of Justice;a.;track;the behavior of the nation?s money supply.;b.;advise;Congress on economic matters.;c.;help;enforce the nation?s antitrust laws.;d.;prepare;the federal budget.;56. The nation's antitrust laws are enforced by economists at the;Department of;a.;Labor.;b.;Health;and Human Services.;c.;Justice.;d.;Treasury.


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