In general, the relationship between ________ and ________ depends on the state of the economy at the time of the output change.
A. output; GDP
B. saving; output
C. inflation; output
D. output; unemployment
Answer: D
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Use the following diagram to answer the next question.
Based on this diagram, we can say ________.
A. a contractionary policy is likely to be more effective than an expansionary policy B. the Fed is pursuing a contractionary monetary policy C. the Fed is pursuing an expansionary monetary policy D. an expansionary policy is likely to be more effect than a contractionary policy
According to this Application, real GDP only grew by ________ percent from the end of the recession in 2009 through 2014
A) 2.0 B) 5.4 C) 10.8 D) 15.0
A time-series graph reveals whether there is a ________, which represents ________
A) trend in a variable; a general tendency for the variable to rise or fall B) relationship between two variables; a cross-section relationship C) trends in two variables; unrelated variables D) relationship between two variables; a trend in a variable E) cross-section relationship; a general tendency for the variables to rise or fall
A successful market economy requires well defined property rights and
A) a safety net to ensure that those who cannot participate in the market economy can earn an income. B) detailed government regulations. C) balanced supplies of all factors of production. D) an independent court system to adjudicate disputes based on the law.