AD2 shows a(n) ______.
a. decrease in real GDP demanded
b. increase in real GDP demanded
c. decrease in price level
d. increase in price level
b. increase in real GDP demanded
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A country wishing to establish a currency basket peg usually
A) chooses a small number of trading partner's currencies for that basket. B) chooses all of its trading partner's to be members of the basket. C) chooses six trading partners for inclusion. D) chooses only the most stable reserve currencies for inclusion.
The historical record suggests that
A) the Phillips curve is horizontal. B) once policy makers attempted to exploit a short-run Phillips curve trade-off, it disappeared. C) shifts in long-run aggregate supply do not affect real output. D) inflation rates are lowest when unemployment rates are also low.
Which of the following is included in M2 but is not included in M1?
a. Eurodollar deposits b. savings accounts c. traveler's checks d. checkable deposits
Ransom E. Olds
A. was the first automobile manufacturer to use a division of labor and an assembly line. B. was the first automobile manufacturer to manufacture a standardized engine with interchangeable parts. C. sold millions of cars at a small unit of profit that allowed his company to dominate the industry. D. All of the choices are true.