Holding a currency to the gold standard works:
A. to the advantage of savers at the expense of borrowers.
B. to the advantage of borrowers at the expense of savers.
C. for no one, and hurts both savers and borrowers from access to money.
D. for everyone, benefiting both savers and borrowers.
A. to the advantage of savers at the expense of borrowers.
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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
Refer to Table 20-14. The real average hourly earnings for 1965 in 1982-1984 dollars equal
A) $1.28. B) $6.49. C) $8.28. D) $15.45.
Which of the following is a diversity of industry argument in favor of restrictions on foreign trade? a. Foreign producers must be prevented from exporting their goods below cost of production
b. Domestic workers must be protected from the lower wages paid in foreign countries. c. The nation's security demands we ensure an adequate domestic supply of certain strategic goods. d. Don't have all of your eggs in one basket. e. Industries in the early stages of development must be protected from more mature producers.
National defense made up the largest portion of federal expenditures in 2009
a. True b. False Indicate whether the statement is true or false