The longest economic expansion on record lasted
A. almost five years.
B. almost six years.
C. nine years.
D. ten years.
D. ten years.
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Assume First Central Bank has a desired reserve ratio of 15 percent; $80,000 in total deposits, loans equal to $60,000, and has $20,000 in actual reserves. First Central can make additional loans totaling
A) $8,000. B) $12,000. C) $20,000. D) $60,000. E) $80,000.
Refer to Table 2-2. Assume Nadia's Neckware only produces ascots and bowties. A combination of 8 ascots and 18 bowties would appear
A) along Nadia's production possibilities frontier. B) inside Nadia's production possibilities frontier. C) outside Nadia's production possibilities frontier. D) at the horizontal intercept of Nadia's production possibilities frontier.
When a tax alters consumers' incentives, it is:
A. always the explicit purpose of the policy. B. sometimes a side effect of a tax designed to raise revenue. C. called a sin tax. D. meant to encourage increased consumption.
Suppose that along the aggregate demand curve, real GDP equals $15 trillion when the GDP deflator is 90. If the GDP deflator were 95, real GDP along the aggregate demand curve would equal
A. more than $15 trillion. B. more than $15 trillion but less than $15.8 trillion. C. less than $15 trillion. D. $15 trillion.