Long-run aggregate supply and a country's production possibility curve (PPC)
A) are inversely related. B) are closely related.
C) have no relationshi
B
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Structural unemployment is likely to be affected by
A) the reservation wage curves of people. B) minimum wage laws and other "rigidities" in the economy. C) recessions and expansions. D) the amount of the money supply.
Who pays the interest on government debt for the money it borrows today?
A) future generations of taxpayers B) the Congressional Budget Office C) the Federal Reserve D) The government does not pay interest on money it borrows.
Walter puts money in a savings account at his bank earning 3.5 percent. One year later he takes his money out and notes that while his money was earning interest, prices rose 1.5 percent. Walter earned a nominal interest rate of
a. 3.5 percent and a real interest rate of 5 percent. b. 3.5 percent and a real interest rate of 2 percent. c. 5 percent and a real interest rate of 3.5 percent d. 5 percent and a real interest rate of 2 percent
The recession of 2008-2009 was preceded by
a. a sharp decline in housing prices. b. large losses among financial institutions that owned mortgage-backed securities. c. rises in mortgage defaults and home foreclosures. d. all of the above