A credit item is an item for which a country must pay.
Answer the following statement true (T) or false (F)
False
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If the economy slips into recession, the Fed ________ the federal funds rate, which ________ the short-term interest rate, and ________ the quantity of money
A) lowers; lowers; decreases B) raises; lowers; increases C) raises; lowers; decreases D) lowers; lowers; increases E) lowers; raises; increases
Real GDP
a. is nominal GDP adjusted for changes in the price level. b. is also called nominal GDP. c. measures GDP minus depreciation of capital. d. will always change when prices change.
From an economic perspective, there is "too little" pollution in a market if
a. The profits of businesses are not maximized b. The marginal benefits of a polluting activity exceed the marginal costs c. The marginal costs of a polluting activity exceed the marginal benefits d. The net social benefits of pollution are zero e. The net private benefits of pollution are zero
Contrast the economic performance of the American economy of 2001 with the economic performance of the 1996 to 2001 period. Use the appropriate aggregate demand and aggregate supply curves to distinguish the differing economic condition of the two periods.
What will be an ideal response?