Recall the Application. By the end of the last phase of quantitative easing in late 2014, that value of the Fed's assets was
A) $1 trillion. B) $2 trillion. C) $3 trillion. D) $4.5 trillion.
D
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Giving up consumption today for consumption tomorrow accelerates economic growth by
A) having the economy produce no consumer goods. B) increasing saving out of disposable income. C) increasing the expected rate of inflation. D) rapid expansion of the money supply.
The more elastic the demand curve, a monopoly
A) will have a larger Lerner Index. B) will face a lower marginal cost. C) will earn more profit. D) will lose more sales as it raises its price.
Refer to row 3 in the table. The number appropriate for space Y is:
A. $24,000.
B. $32,000.
C. $48,000.
D. $96,000.