What is typically the main cost of pursuing a college education?
A) tuition
B) room and board
C) books and supplies
D) income forgone by not working
Answer: D
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Household savings rates:
A. were roughly 5% in the United States in 2016. B. were 10% in the United States in 2016. C. were fairly constant at about 5 %in the United States from 2000 to 2010. D. have been roughly 15 % in the United States for the last 30 years or so.
The spot market is:
a. Another term for an over-the-counter-exchange. b. The market for current delivery. c. The market for delivery in the future. d. The market for current deliveries but future payments.
Refer to the figure below where the nominal interest rate equals 6% and the money supply equals 600. If the Federal Reserve wants to lower the interest rate to 4%, it must ________ the money supply to ________. 
A. increase; 1,000 B. increase; 800 C. decrease; 800 D. decrease; 400