Hyperinflation is
A. inflation calculated using new technology.
B. inflation calculated based on the CPI model.
C. a very rapid increase in prices from year to year.
D. a moderate increase in prices from year to year.
Answer: C
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
In the traditional Keynesian model, if the government cuts taxes, then
A) both consumption and real Gross Domestic Product (GDP) will increase. B) both consumption and real Gross Domestic Product (GDP) will decrease. C) consumption will increase but Gross Domestic Product (GDP) will decrease. D) consumption will decrease but Gross Domestic Product (GDP) will increase.
The risk of financing a project by issuing common stock is borne by
a. the issuing firm only. b. the stockholders only. c. both the issuing firm and the stockholders. d. the government.
According to _____________, rent was an unearned surplus and should be taxed away.
Fill in the blank(s) with the appropriate word(s).