The implementation lag for fiscal policy is
A. the same length a the implementation lag for monetary policy.
B. the same length as the recognition lag for fiscal policy.
C. shorter than the implementation lag for monetary policy.
D. longer than the implementation lag for monetary policy.
Answer: D
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Profits represent
A) a reward to entrepreneurs. B) the income earned from a bond. C) the difference between total tax revenue and total government spending. D) the payments firms make to their employees.
The process of a government intervening to maintain the value of their exchange rate after shock to their economy is known as
A) sterilization. B) preventative therapy. C) beggar-thy-neighbor policies. D) the liquidity effect.
The concave shape of a production possibilities frontier showing possible output levels of good A and good B indicates that if the economy produces more and more of good B,
a. larger and larger amounts of good A must be sacrificed b. smaller and smaller amounts of good A must be sacrificed c. more of good A will be produced d. the amount of resources available in the economy must be increased e. there must be an improvement in technology
The formula for nominal GDP is
a. Nominal GDP = Real GDP + GDP Deflator. b. Nominal GDP = Real GDP – GDP Deflator. c. Nominal GDP = GDP Deflator / Real GDP. d. Nominal GDP = GDP Deflator x Real GDP.