Despite both monetary and fiscal policy actions, real GDP declined at an annualized rate of 6% during the last quarter of 2008 and the first quarter of 2009
a. True
b. False
Indicate whether the statement is true or false
True
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The greater are foreign tradable goods price fluctuations, the more likely that authorities will choose a ________ exchange rate system
A) floating B) fixed C) crawling peg D) dual
If the supply of a good is perfectly inelastic, then suppliers will bear the full burden of an excise tax
a. no matter how elastic the demand for the good is. b. only if demand is perfectly elastic. c. only if demand is perfectly inelastic. d. only if the government forbids them to raise the price of the good.
Suppose you are deciding how much oil to pump from your oil well in the next ten years. If you know oil would sell for $5 per gallon in ten years and the real interest rate is about 4%, the present value of the opportunity cost of selling the oil today would be about
A. $4.00. B. $2.50. C. $0. D. $3.38.
In national income accounting, the two uses of disposable income are
A. Saving and investment. B. Personal income and personal taxes. C. Consumption and investment. D. Saving and consumption.