Which of the following is a widely-used and closely-watched forecasting tool concerning the future direction of the macro-economy?
a. the excess reserves of commercial banks
b. the Phillips curve
c. the index of leading indicators
d. the current budget deficit or surplus
e. the velocity of the M1 money supply
C
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What is search activity and how does it influence consumer surplus when a rent ceiling creates a housing shortage?
What will be an ideal response?
Figure 8-1
?
Based on the scatter diagram in Figure 8-1, approximately how much will consumption increase after a permanent tax cut of $400 billion?
A. $100 billion B. $150 billion C. $250 billion D. $350 billion
A market equilibrium:
A. is never socially optimal. B. might not maximize total economic surplus. C. is socially optimal. D. leaves unexploited opportunities for individuals.
Money is channeled from savers to borrowers by banks and other _______.
Fill in the blank(s) with the appropriate word(s).