Opponents of using policy to stabilize the economy generally believe that
a. neither fiscal nor monetary policy have much impact on aggregate demand.
b. attempts to stabilize the economy decrease the magnitude of economic fluctuations.
c. unemployment and inflation are not cause for much concern.
d. economic conditions can easily change between the start of policy action and when it takes effect.
d
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Refer to the accompanying figure. At P = 8 and Q = 4, D1 is ________ elastic than D2, which is shown graphically as D1 being ________ D2.
A. less; flatter than B. more; steeper than C. less; steeper than D. more; flatter than
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, what is the world price?
A. $45 B. $11 C. $23 D. $16
The transcontinental railroads were completed in the 25 years
A. before the Civil War. B. after the Civil War. C. after 1890. D. after the 20th century began.
The largest proportion of M1 is made up of
A) currency. B) checking account deposits. C) traveler's checks. D) savings account deposits.