Under the Bretton Woods system, when a country adopted an expansionary monetary policy, thereby causing a balance of payments ________, the country would eventually be forced to implement ________ monetary policy
A) deficit; expansionary
B) deficit; contractionary
C) surplus; expansionary
D) surplus; contractionary
B
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Suppose that for several periods the aggregate demand and supply curves have been intersecting at the same point, and at full employment. Then the central bank increases money growth as a result of an announced policy change
Under the assumption of adaptive expectations the likely short-run result is __________ output and __________ price level. A) rising; a rising B) rising; an unchanged C) unchanged; a rising D) unchanged; an unchanged
The slope of the utility possibilities frontier is
A) positive. B) negative. C) zero. D) undefined.
As labor productivity increases, which of the following shifts in the labor market should occur?
A. Supply of labor should shift to the left. B. Demand for labor should shift to the right. C. Demand for labor should shift to the left. D. Supply of labor should shift to the right.
_____% of all American business firms are monopolistic competitors.
Fill in the blank(s) with the appropriate word(s).