Contractionary fiscal policy attempts to shift aggregate demand to the right
Indicate whether the statement is true or false
FALSE
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Value and price can be compared by noting that
A) they are the same thing. B) value is always greater than price. C) value is what we must pay, while price is what we are willing to pay. D) price is what we must pay, and value is what we are willing to pay. E) value is what the seller receives when we buy a good, and price is what we must pay when we buy a good.
Compare the supply curve in the market for bank reserves prior to 2008 with the supply curve following the financial crisis.
What will be an ideal response?
Answer the question on the basis of the following data. All figures are in billions of dollars. Proprietor's Income 20 Compensation of Employees 300 Consumption of Fixed Capital 15 Gross Investment 80 Rents 10 Interests 20 Exports 30 Imports 50 Corporate Profits 25 Taxes on Production and Imports 5 Net Foreign Factor Income 0 Statistical Discrepancy 0 Refer to the above data. Gross domestic product is:
a) $395. b) $380. c) $375. d) $360.
Keynesian theory became important when classical economic theory did not adequately explain:
A. A prolonged period of both inflation and unemployment. B. A prolonged growth recession. C. A depression. D. A prolonged period of inflation. E. Outsourcing.