Real Gross Domestic Product is Gross Domestic Product
A. adjusted for changes in interest rates.
B. adjusted for inflation.
C. after eliminating sales of intangible things, like services.
D. adjusted for the impact of pollution.
Answer: B
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Suppose that investment is very responsive to interest rates, so that even a small change in interest rates has a substantial effect on investment. In this case, expansionary monetary policy that results in a modest drop in interest rates will:
A. increase output only slightly. B. not increase output. C. decrease output sharply. D. increase output significantly.
Which of the following is true?
A. Perfect equilibrium and Nash equilibrium are the same concept but with different names. B. A Nash equilibrium is always perfect. C. A Nash equilibrium is always perfect in a multistage game. D. A perfect equilibrium is always Nash.
Which of the following is a series of events that accurately describes the steps by which restrictive monetary policy is effective?
A. Increase in M1, decrease in investment, and decrease in interest rate. B. Decrease in interest rate, decrease in M1, and increase in investment. C. Decrease in M1, increase in interest rate, and decrease in investment. D. Increase in M1, increase in interest rate, and increase in investment.
The more progressive the tax system, the:
A. Less is the built-in stability for the economy B. Greater is the built-in stability for the economy C. Less is the effect of crowding-out on the economy D. Greater is the severity of business fluctuations on the economy