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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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.
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?
Cap-and-trade programs create a market for the right to pollute.
Answer the following statement true (T) or false (F)