Based on the graph showing a reduction in the growth of the money supply, real wages initially rise because the decrease in inflation rate is ______.
a. too small
b. too slow
c. expected
d. unanticipated
d. unanticipated
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New growth theory proposes that real GDP per person grows because of ________ and that growth ________
A) the pursuit of profit; can persist indefinitely B) productivity shocks; can persist indefinitely C) technological change; can only increase above the subsistence level temporarily D) productivity shocks; occurs randomly
In the recent Global Economic Crisis, the end of cash-out mortgage refinancing caused
A) LM curve to shift to the right. B) LM curve to shift to the left. C) IS curve to shift to the left. D) LM curve to shift to the right.
Over the long run, the fundamental funding sources for the government include
A) borrowing. B) transfers between government agencies. C) taxes. D) lending.
If the price of oranges went up by 20 percent, which of the following values of the cross price elasticity for apples would be most reasonable to anticipate?
A. -2.0 B. 0.0 C. 1.2 D. -0.2