{"question": "Which of the following is not included in the U.S. GDP?", "options": ["The U.S. military opens a new base in a foreign country with 1000 U.S. personnel.", "Japanese consumers buy thousands of CDs produced in the United States.", "An American pop singer performs a sold-out concert in Paris.", "A French theatrical production tours dozens of American cities."], "answer": "C"}
{"question": "The short-run Phillips curve indicates a", "options": ["direct relation between unemployment and inflation", "direct relation between price and quantity demanded", "inverse relation between price and quantity demanded", "inverse relation between unemployment and inflation"], "answer": "D"}
{"question": "A federal deficit occurs when", "options": ["exports exceed imports.", "imports exceed exports.", "federal tax collections exceed spending.", "federal spending exceeds federal tax revenues."], "answer": "D"}
{"question": "Holding all else equal which of the following monetary policies would be used to boost U.S. exports?", "options": ["Increasing the discount rate", "Increasing the reserve ratio", "Buying government securities", "Lowering tariffs"], "answer": "C"}
{"question": "Which of the following policies best describes supply-side fiscal policy?", "options": ["An increase in the money supply", "Increased government spending", "Lower taxes on research and development of new technology", "Higher taxes on household income"], "answer": "C"}