The FOMC "Statement on Long-Run Goals and Monetary Policy Strategy"made it clear that the Federal Reserve would be pursuing ________, consistent with its dual mandate
A) a flexible form of inflation targeting
B) a strict form of inflation targeting
C) a zero inflation targeting
D) an implicit inflation targeting
A
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Although a corporation is the most common type of firm, corporations generate only a small share of business revenue in the U.S. economy
Indicate whether the statement is true or false
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
In the monetarist model, an increase in both government spending and taxes would
a. lead to a large increase in interest rates. b. increase income dollar for dollar with the increase in government spending. c. have a much smaller impact on income than in the Keynesian model. d. all of the above.
GDP is a measure of:
a. domestic production. b. changes in the general level of prices. c. material well-being. d. social welfare.