The long-run impact of unanticipated expansionary policy is ______.
a. underproduction
b. overproduction
c. deflation
d. inflation
d. inflation
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Which of the following acts required that financial derivatives be traded in established, regulated markets?
A. Glass-Steagall Banking Act B. Gramm-Leach-Bliley Financial Services Modernization Act C. Dodd-Frank Wall Street Reform and Consumer Protection Act D. Celler-Kefauver Financial Reform Act
The natural rate of unemployment is
a. the rate of unemployment caused by frictional plus structural unemployment b. the actual rate of unemployment less structural unemployment c. structural, frictional, and cyclical unemployment d. full employment less structural unemployment e. the civilian population that is out of work and actively seeking a job
Suppose that antitrust laws were successful in moving the allocation of resources in the computer software industry closer to the social optimum. This situation would illustrate which of the following Ten Principles of Economics?
a. Trade can make everyone better off. b. The cost of something is what you give up to get it. c. Governments can sometimes improve market outcomes. d. A country's standard of living depends on its ability to produce goods and services.
Consumers buy more normal goods as their incomes rise.
Answer the following statement true (T) or false (F)