According to the Lucas supply function, the amount of output produced is ________ to the price level if people's expectations of the price level are on target.
A. inversely related
B. directly related
C. negatively related
D. not related
Answer: D
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About how many malnourished children under age five are there in the developing world?
a. 20 million b. 150 million c. 500 million d. 1 billion e. 2 billion
Professor Tabarrok suggests that monetary policy is both an art and a science because of the complexity of answering all of the following questions EXCEPT:
A. how to use monetary policy tools. B. where to apply monetary policy tools. C. when to use monetary policy tools. D. which monetary policy tools to use.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
The public debt is the amount of money that:
A. state and local governments owe to the federal government. B. the federal government owes to taxpayers. C. the federal government owes to holders of U.S. securities. D. Americans owe to foreigners.