In general, fiscal policy has a longer ________ lag than monetary policy but shorter ________ lag.
A. response; implementation
B. implementation; response
C. implementation; recognition
D. recognition; response
Answer: B
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Which of the following is NOT a macroeconomic statement?
A) The U.S. inflation rate was two percent in 2016. B) The price of cell phones decreased by 18 percent last year. C) Gross domestic product in Peru increased 4 percent from 2015 to 2016. D) Aggregate worker productivity decreased by three percent in 2016.
Suppose the population of Tiny Town is 100 people and the working age population is 70. If 10 of these people are unemployed, the unemployment rate in Tiny Town is
A) 10 percent. B) 10/70 × 100. C) 10/80 × 100. D) There is not enough information provided to calculate the unemployment rate.
________ is the benefit that a consumer of a good or service receives
A) Marginal private benefit B) Marginal external benefit C) Marginal social benefit D) Both answers A and B are correct.
Country A-2020 Transactions (billions of dollars)
In the above table, the fact that there is a minus sign before the number for unilateral transfers means that
A. Country A imported more goods than it exported. B. Country A gave more to foreign residents than foreign residents gave to Country A. C. Country A received more in foreign aid than it gave in foreign aid. D. Country A has significant inflation.