Refer to above Table 2-1. What is the level of Disposable Personal Income?
A) 2520
B) 1900
C) 2200
D) 2120
D
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If the economy is entering a recession, what should the Fed do as far as changing interest rates, and how should this affect consumer and business spending?
What will be an ideal response?
On the modern Phillips curve, the initial impact of productivity improvements that lower the costs of production is shown by ________
A) an upward movement along the Phillips curve to a higher inflation rate B) an upward shift of the Phillips curve leading to higher inflation rates for any unemployment rate C) a downward shift of the Phillips curve leading to lower inflation rates for any unemployment rate D) a downward movement along the Phillips curve to higher unemployment rates E) none of the above
Insurance companies provide higher insurance premiums to plans with lower deductibles as a way of:
A. reducing the lemons problem. B. avoiding moral hazard. C. screening between types of drivers. D. optimizing information acquisition.
Cap-and-trade programs create a market for the right to pollute.
Answer the following statement true (T) or false (F)