As a result of OPEC ________ oil prices in 1973 and 1980, real GDP in United States ________
A) increasing; increased
B) increasing; decreased
C) decreasing; increased
D) decreasing; decreased
E) increasing; did not change
B
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Using the information in the table above, calculate the employment-to-population ratio
A) 75 percent B) 65 percent C) 50 percent D) 23.2 percent
An assumption in the model of the money supply process is that the desired levels of currency and excess reserves
A) are given as constants. B) grow proportionally with checkable deposits. C) grow proportionally with high-powered money. D) grow proportionally over time.
Economic profit always exceeds accounting profit
a. True b. False Indicate whether the statement is true or false
Aggregate demand shifts right if at a given price level
a. taxes rise and shifts left if the money supply increases. b. taxes rise and shifts right if the money supply increases. c. taxes fall and shifts left if the money supply increases. d. taxes fall and shifts right if the money supply increases.