Twenty-four months after a 1 percentage point increase in the short-term (Treasury bill) interest rate, real GDP have fallen by about ________ in 1961-75, by ________ during 1976-1990, and by ________ during 1991-2007 period. 88-2004
A) 2%, 1%, 3%
B) 0.1%, 2%, 1.8%
C) 1.8%, 0.9%, 0.2%
D) 0.2%, 0.1%, 0.9%
C
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Consider a nation that has a comparative advantage in the production of goods using unskilled labor. What types of workers will benefit from increased trade, and what type will lose?
What will be an ideal response?
People with hidden health problems are more likely to buy health insurance than are other people. This is an example of
a. moral hazard and makes the cost of health insurance higher than otherwise. b. moral hazard and makes the cost of health insurance lower than otherwise. c. adverse selection and makes the cost of health insurance higher than otherwise. d. adverse selection and makes the cost of health insurance lower than otherwise.
Figure 10-1
?
If the price level in Figure 10-1 were 100,
A. firms would have to lower their prices. B. inventories would be accumulating. C. shortages of goods would exist. D. aggregate quantity demanded would exceed aggregate quantity supplied. E. both c and d would occur.
Is the United States a command economy, a laissez-faire economy, or neither? Explain
What will be an ideal response?