The combined efforts of the Fed and the Treasury in response to the financial crisis following the housing market crash caused:
A. aggregate supply to shift left, but still far below its pre-crisis level.
B. aggregate demand to shift right to its pre-crisis level.
C. the opposite reaction, and aggregate supply shifted farther to the left.
D. aggregate supply to shift right to its pre-crisis level.
Answer: D
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the Euro ________ against the U.S. dollar, the Japanese yen ________ against the U.S
dollar and the Canadian dollar ________ against the U.S. dollar A) depreciated, depreciated, depreciated B) appreciated, depreciated, appreciated C) appreciated, appreciated, appreciated D) depreciated, depreciated, appreciated
If you have trouble finding a job because of a slowdown in the overall economy, we would say that you are
A) cyclically unemployed. B) frictionally unemployed. C) seasonally unemployed. D) structurally unemployed.
Which of the variables does not pass the t-test at the .05 level of significance?
A) PA B) PB C) A D) I E) All the variables pass the t-test.
During the Reagan administration, the Laffer curve was used to argue that:
A. the supply-side effects of tax cuts are relatively small.
B. discretionary tax cuts are unwise because they create stagflation.
C. lower income tax rates could increase tax revenues.
D. a "flat tax" would simplify the tax code and stimulate economic growth.