An intended goal of expansionary fiscal policy and an easing of monetary policy is
A. an increase in the price level.
B. an increase in the level of aggregate output.
C. an increase in interest rates.
D. the equalization of the distribution of income.
Answer: B
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Economies with sustained high inflation generally have
A) very low unemployment rates. B) very low GDP growth rates. C) high rates of business investment. D) independent central banks.
If we know the amount of total cost, average total cost, average variable cost, and marginal cost for each level of output, how can we find the level of output where the marginal product is the greatest?
A) It is the output for which the marginal cost equals average variable cost. B) It is the output for which the total cost is maximized. C) It is the output for which the marginal cost is minimized. D) It is the output for which the marginal cost equals average total cost. E) There is no way to find where marginal product is the greatest knowing only cost data.
The decline in stock prices from 2000 through 2002
A) increased individuals' willingness to spend. B) had no effect on individual spending. C) reduced individuals' willingness to spend. D) increased individual wealth.
Although wages, incomes, and interest rates are most often discussed in nominal terms, what matters most are their real values
a. True b. False Indicate whether the statement is true or false