Which of the following is most consistent with supply-side policy?
A. The decrease in the growth of the money supply in 1994.
B. The increase in the interest rate six times during 1999-2000 by the Fed.
C. The Workforce Investment Act, which increased funds for skills training.
D. The Budget Enforcement Act of 1990.
Answer: C
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A decline in expected future output would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.
In 1902, total government expenditures at all levels of government were around _____
a. 10 percent of GDP b. 20 percent of GDP c. 30 percent of GDP d. 40 percent of GDP
According to the law of demand, the quantity demanded of a good is related to
A) the average price of all goods. B) income. C) any factor that affects the decision of an individual consumer but not the market. D) the relative price of that good.
Suppose a nation's 2010 nominal GDP was $972 billion and the general price index was 90. To make the 2010 GDP comparable with the base year GDP, the 2010 GDP must be:
A. deflated to $678 billion. B. deflated to $896 billion. C. inflated to $1,080 billion. D. deflated to $1,080 billion.