The total quantity of output demanded at alternative price levels refers to:
A. Macro equilibrium.
B. Consumption.
C. Market demand.
D. Aggregate demand.
D. Aggregate demand.
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Which of the following is false about a liquidity trap situation: a. Quantitative easing might be a more effective strategy to stimulate the economy than buying short term government securities. b. The Fed can lower both short term and long term interest rates by using quantitative easing. c. The Fed cannot easily reduce the fed funds interest rate
d. Quantitative easing may be able to affect long term interest rates even when the Fed is unable to appreciably lower short term interest rates.
If transfer payments are included when evaluating tax burdens, then the average tax rate of the poorest quintile of taxpayers would be approximately
a. negative 30 percent. b. negative 10 percent. c. positive 1 percent. d. positive 8 percent.
Economists studying the impact of currency unions on trade found currency unions:
A) increased levels of trade by 221%. B) increased levels of trade by 104%. C) increased levels of trade by 38%. D) had no effect on trade levels.
The term "price supports" refers to a
a. shortage. b. surplus. c. price ceiling. d. price floor.