Federal Reserve monetary policy goals include
What will be an ideal response?
price level stability
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Gross domestic product (GDP) is a poor measure of social well-being because:
a. the value of leisure time is included in GDP accounting. b. the revenue earned through exports is ignored c. each dollar of government spending is valued at less than one-half of private spending. d. consumer spending is more important than business spending and should be considered more valuable. e. it values products at their market prices but ignores services produced.
When a business finds its obligations are ended,
a. all costs are variable costs b. this is the short run c. the market price of the output rises d. the marginal cost curve shifts up e. it may have to continue operations to minimize losses
The ________ approach relies on the right discretionary policy to close the gap through a ________ of the aggregate demand curve
a. passive; decrease b. active; increase c. passive; increase d. active; decrease
For a given level of inflation, if a rise in the stock market makes consumers more willing to spend, known as the wealth effect, then the ________ shifts ________.
A. short-run aggregate supply line; upward B. aggregate demand curve; right C. short-run aggregate supply line; downward D. aggregate demand curve; left