Friedman argued that the Fed could use monetary policy to peg
a. the level of real GDP.
b. the growth rate of real GDP.
c. the rate of unemployment.
d. None of the above is correct.
d
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Refer to Table 20-4. Assume the market basket for the consumer price index has two products—meat and potatoes—with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals
A) 125. B) 129. C) 135. D) 141.
According to the human skills theory
A) trade patterns depend upon a country's relative endowment of skilled workers. B) countries with large endowments of skilled labor will have comparative advantage in skilled labor intensive products. C) the Leontief paradox is explained by the fact that the United States is relatively skilled labor abundant. D) All of the above.
A main trading partner with the U.S. is:
A. South Africa. B. Mexico. C. Russia. D. Saudi Arabia.