The fiscal policy planner's job is made easier because full-employment GDP can be accurately measured
a. True
b. False
Indicate whether the statement is true or false
False
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As a general rule, free trade:
A. acts to equalize the supply of and demand for factors of production across countries. B. causes factor prices to converge across countries. C. increases the supply of factors that are domestically scarce. D. All of these are true.
Which of the following reduced the effectiveness of the Fed's low interest rate policy during the aftermath of the 2008-2009 recession?
a. The heavy indebtedness of households. b. The reduction in the earnings derived from savings accounts, certificates of deposits, and other forms of savings used by many Americans. c. The increased fear of inflation fueled by the Fed's expansionary monetary policy. d. All of the above.
?How does an increase in income affect the market for iPads (normal good)?
a. The demand curve for iPads shifts to the right
b. The demand curve for iPads shifts to the left
c. The supply curve for iPads shifts to the right
d. The supply curve for iPads shifts to the left
The argument that foreign trade should be restricted to protect domestic employment and output is based on the idea that:
A. consumers are willing to pay higher prices for domestic goods. B. producers will not exploit reduced foreign competition by charging higher prices. C. foreign companies are more costly to deal with than domestic companies. D. sales of imports come at the expense of domestic goods and jobs.