Contrary to popular belief, U.S. productivity growth did not actually improve in the mid 1990s despite the massive growth in technological innovation
a. True
b. False
Indicate whether the statement is true or false
False
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The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time.Turning PointDateReal GDP(1996 $ billions) (A)July 19531992.2(B)May 19541941.0(C)Apr. 19572182.7(D)Apr. 19582117.4(E)Apr. 19602391.0Which of the turning points are peaks?
A. (A), (B), and (C) B. (A), (C), and (E) C. (B) and (D) D. (C), (D), and (E)
A decrease in the tax rate will ________ the disposable income of households and ________ the size of the multiplier effect
A) decrease; decrease B) decrease; increase C) increase; decrease D) increase; increase E) increase; not change
When a firm's competitors cut their prices when the firm does, but do not raise their prices when the firm does, the result is that the firm has a kinked demand curve
Indicate whether the statement is true or false
If government spending and taxes increase by the same amount,
A) the IS curve does not shift B) the IS curve shift leftward C) the IS curve shifts rightward D) the LM curve shifts downward