If the government ran a major deficit, and there was no noticeable effect on the level of GDP, this could be taken as evidence of
A. crowding-in.
B. structural deficit.
C. crowding-out.
D. monetary policy ineffectiveness.
Answer: C
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A restrictive monetary policy is designed to shift the aggregate ________.
A. demand curve to the left B. supply curve to the right C. demand curve to the right D. supply curve to the left
The U.S. economy is experiencing rising output, rising employment, rising incomes and falling unemployment. These conditions best describe a business cycle
A) expansion. B) peak. C) trend. D) recession. E) trough.
_________ is a thinking and information-gathering process involving a series of decisions
a. Planning b. Acting c. Sequencing d. Brainstorming
The President and the Congress jointly determine the nation's monetary policies, and the Fed is required by law to implement those policies
a. True b. False Indicate whether the statement is true or false