If aggregate demand equals output,
A) the economy is in a recession.
B) output will increase.
C) output will fall.
D) the economy is at its equilibrium level.
D
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Which of the following is a role played by the Fed in the U.S. economy?
A) It acts as a lender of the last resort in case of bank runs. B) It determines the import duty on raw materials being imported into the country. C) It acts as a direct source of funds for new businesses and startups. D) It takes political decisions during periods of recessions.
The effective use of coercion in a society ultimately depends upon
A) fear. B) free enterprise. C) police enforcement. D) voluntary cooperation.
This chapter talked about the idea of independent events
a. Suppose you draw a card from a standard deck of cards, put that card back in the deck, and draw a second card. Are the events "Draw a diamond the first time" and "Draw a diamond the second time" independent events? b. Suppose you draw a card from a standard deck of cards, you do notput that card back in the deck, and draw a second card. Are the events "Draw a diamond the first time" and "Draw a diamond the second time" independent events?
The natural rate of unemployment occurs if there is no:
a. unemployment. b. frictional unemployment. c. structural unemployment. d. cyclical unemployment.