Recessions begin at ________ and end at ________.
A. a peak; a trough
B. the highest unemployment rate; the lowest unemployment rate
C. a trough; a peak
D. the lowest unemployment rate; the highest unemployment rate
Answer: A
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Use the following table with data for a private (no government) closed economy to answer the next question. All figures are in billions of dollars.Domestic Output or Income (RGDP = DI)Consumption$540$540560555580570600585620600640615660630If planned investment is $25 billion, then aggregate expenditures at the income level of $560 billion will be
A. $565 billion. B. $585 billion. C. $580 billion. D. $595 billion.
Currency circulated by banks that could be redeemed for gold was called
A) junk bonds. B) banknotes. C) gold bills. D) state money.
Which of the following examples shows the problem caused by the Fed’s lack of control over certain financial entities?
a. The Fed’s expansionary policy backfires because the government raises taxes. b. The Fed’s contractionary policy backfires because the estimated MPC is inaccurate. c. The Fed’s expansionary policy is neutralized by decreased consumer confidence. d. The Fed’s contractionary policy is counteracted by the policies of Chinese banks.
Specialization and exchange result from differences in productivity that lead to:
A. opportunity cost. B. comparative advantage. C. absolute advantage. D. self-sufficiency.