Which of the following is probably not a goal the Fed is trying to achieve consistently?
a) low inflation
b) high interest rates
c) steady GDP growth
d) low unemployment
Ans: b) high interest rates
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Specialization is the result of:
A) hiring experienced workers. B) paying higher wages to experienced workers. C) workers developing a certain skill set. D) increased demand for a firm's commodity.
Refer to the above table. The balance of trade is
A) $1000. B) -$665. C) +$335. D) -$155.
A shift from i1 to i2 in graph 1 leads directly to which of the following in graph 2?
a. a shift from PL2 to PL1
b. a shift from MD2 to MD1
c. a shift from RGDP1 to RGDP2
d. a shift from RGDP2 to RGDP1
The optimal method of production is the one that
A. maximizes output regardless of cost. B. minimizes the normal rate of return. C. maximizes inputs. D. minimizes cost.