Everything else held constant, if aggregate output is to the ________ of the LM curve, then there is an excess ________ of money which will cause the interest rate to rise
A) right; supply
B) right; demand
C) left; supply
D) left; demand
B
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What is the main conceptual difference between GDP and GNP? How different are GDP and GNP for the United States? For countries with many citizens who work abroad?
What will be an ideal response?
The national debt
A) decreases with a budget deficit. B) increases with increases in government spending. C) increases with open market purchases by the Federal Reserve. D) increases with a budget deficit.
From the modern "ordinalist" perspective, when we change the scale used to measure utility:
A. the consumers indifference curves remain unchanged. B. the consumers indifference curves will shift in the same direction as the change in the scale used to measure utility. C. the consumers indifference curves will shift in the opposite direction as the change in the scale used to measure utility. D. consumers will "move along" their indifference curves.
Inflation reduction has the highest cost when the efforts are
a. credible so that the sacrifice ratio is low. b. credible so that the sacrifice ratio is high. c. unexpected so that the sacrifice ratio is high. d. unexpected so that the sacrifice ratio is low.