Which of the following is not true with regard to the aggregate expenditure model?
a. It explains short-run business cycles
b. It explains inflation.
c. It assumes that consumption spending is the primary determinant of aggregate demand.
d. It includes investment, government spending, and net exports.
b
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For the federal deficit to be lowered
A) the Federal Reserve must reduce the money supply. B) the federal government must decrease its spending and increase net exports. C) the federal government's expenditures must be lower than its tax revenue. D) the Federal Reserve must raise interest rates and lower the required reserve ratio.
Which of the following would be considered a leading indicator?
a. Prime interest rate b. Personal income c. Money supply d. Inventories to sales ratio e. Unemployment duration
When exchange rates are set by government decree,
a. appreciation is called devaluation. b. depreciation is called devaluation. c. depreciation is called deflation. d. appreciation is called inflation.
The main proponent of the liberal view of poverty is
A. Charles Murray. B. William Julius Wilson. C. Nicholas Lemann. D. David Rogers.