Since the 1950s
A) U.S. business cycle fluctuations have become milder.
B) U.S. business cycle fluctuations have not changed.
C) U.S. business cycle fluctuations have becomes more volatile.
D) the United States has not experienced a business cycle.
A
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In the United States, currency includes
A) gold, silver, and paper money. B) checking and savings account deposits. C) paper money and coins in circulation. D) traveler's checks.
Changes in which of the following shift the short-run Phillips curve?
i. changes in the natural unemployment rate ii. changes in the expected inflation rate iii. changes in the inflation rate A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
Refer to Figure 15-7. Suppose the Fed sells Treasury Bills in pursuit of contractionary monetary policy. Using the static AD-AS model in the figure above, this situation would be depicted as a movement from
A) B to C. B) B to D. C) C to B. D) C to D. E) A to B.
Global warming, which causes unfavorable climatic changes due to the burning of fossil fuels, would be an example of a(n): a. positive externality
b. negative externality. c. internalized externality. d. Coase externality.