The nominal interest rate equals the real interest rate ________ the inflation rate
A) plus B) times C) minus D) divided by
A
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
If the price of rubber (an input to the production of tires) increases:
A. the supply of tires will increase. B. the demand for tires will decrease. C. the supply of tires will decrease. D. the demand for tires will increase.
In feudalism, serfdom was maintained primarily through:
A. market forces. B. supply and demand. C. tradition. D. economic forces.
The highest tariff rates of the twentieth century in the United States arose as a result of which law?
A) the Robinson-Patman Act B) the Tariff of Abominations Act C) the Wheeler-Lea Act D) the Smoot-Hawley Act