The Fed's objectives present it with a true dilemma when
a. there are demand shocks caused by shifts in money demand
b. there are demand shocks caused by changes in spending
c. there are negative supply shocks
d. cyclical unemployment exists
e. there is member bank opposition
C
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In the above figure, if the Lorenz curve were to move closer to the diagonal line containing points b and c, the income distribution would be
A) more unequal. B) more equal. C) unchanged. D) More information is needed to determine how this change would affect the income distribution.
Refer to Figure 5-7. The marginal cost of reducing pollution curve is the same curve as
A) the demand for pollution reduction curve. B) the value of pollution reduction curve. C) the negative externality curve. D) the supply of pollution reduction curve.
A decrease in foreign real income would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
Public choice theory suggests that political candidates try to get elected by
a. appealing to conservatives b. appealing to liberals c. appealing to senior citizens d. appealing to the median voter e. raising taxes