The first official statement of goals for macroeconomic performance in the United States came with the passage of the
A) Federal Reserve Act of 1913.
B) Employment Act of 1946.
C) Great Depression Act of 1933.
D) Full Employment and Balanced Growth Act of 1978.
Ans: B) Employment Act of 1946.
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The commercial paper market was an important ingredient for the Great Recession because:
a. It is the market on which mortgages are financed, and, due to the Great Recession, this market dried up. b. It is the market on which many companies finance their daily working capital needs and, due to the Great Recession, this market dried up. c. The commercial paper market was the only financing source open to companies during the great recession. d. All of the above.
a schedule or a curve that shows the total quantity of output (real GDP) demanded at alternative price levels in a given period, ceteris paribus
What will be an ideal response?
Which of the following is NOT a characteristic of a perfectly competitive industry?
A) There is free entry and exit in the long run. B) The industry demand curve is downward sloping. C) Each firm produces the same homogeneous product. D) Economic profits must be positive in the short run.
In an open economy, a reduction in government spending will cause
A) an increase in domestic output. B) an increase in imports. C) an increase in net exports. D) all of the above E) none of the above