Which of the following is NOT one of the economic problems that the "New Economy" is alleged to have solved?
A) deflation
B) slow growth in productivity
C) the budget deficit
D) business cycle
A
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If the Federal Reserve chooses to fight high unemployment with expansionary monetary policy and firms and consumers expect this policy to increase inflation, which of the following would you expect to see?
A) an upward shift of the short-run Phillips curve B) a downward shift of the short-run Phillips curve C) a decrease in the long-run aggregate supply curve D) Both B and C are correct answers.
If a city has 3293 unemployed people and 69,884 employed people, then the city's unemployment rate equals
A) 45.0%. B) 4.5%. C) 4.3%. D) 0.45%.
If original excess reserves are $10 million, and if the potential change in demand deposits is $153 million, then the demand deposit expansion multiplier is
A) 1.53. B) 0.65. C) 10.0. D) 0.07.
Who controls a sole proprietorship?
A) stockholders B) bondholders C) the owner D) all of these