In the United States, controlling inflation is the primary job of ______.
a. the Department of Labor
b. the Federal Reserve System
c. Congress
d. the Bureau of Labor Statistics
b. the Federal Reserve System
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
The new Keynesians emphasize the importance of
A) rational expectations. B) sticky wages and prices. C) real causes of the business cycle. D) the monetary growth rule.
Refer to Scenario 2. What percentage of the variation in the dependent variable, Market Value, is explained by the regression model?
What will be an ideal response?
If both demand and supply increase, price will
a. always increase b. always decrease c. increase only if supply increases more than demand does d. increase only if demand increases more than supply does e. decrease only if supply increases less than demand does