The aggregate demand curve shows the alternative combinations of the price level and real income that result in simultaneous equilibrium in both the goods and money markets
Indicate whether the statement is true or false
TRUE
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Since the Federal Reserve Banking Act of 1978, what has been the Fed's chief responsibility?
a. Encouraging investment b. Regulating foreign trade c. Minimizing the interest payments on the national debt d. Achieving a low and stable rate of inflation e. Keeping the interest rate low
Above a certain income the marginal social security tax drops to zero
a. True b. False Indicate whether the statement is true or false
A negative externality exists when ______.
a. a situation occurs where an informed party benefits in an exchange by taking advantage of knowing more than the other party b. the available information is initially distributed in favor of one party relative to another in an exchange c. costs spill over to an outside party who is not involved in producing or consuming the good d. benefits spill over to an outside party who is not involved in producing or consuming the good
The ________ capital in developing nations causes labor productivity to remain low.
A. subsidized B. increase in privately controlled C. reassignment of D. lack of