Which of the following is a limitation of discretionary fiscal policy? i. lawmaking lags ii. estimating potential GDP iii. income gap
A) i only
B) ii only
C) iii only
D) i and ii
E) i, ii, and iii
D
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Bond prices and bond yields have a(n) ______________ relationship.
A. direct B. inverse C. independent D. positive
An increase in domestic output would cause a ________ in net exports and a ________ in the exchange rate
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Consider the production possibilities frontier displayed in the figure shown. If this society chooses to produce 200 bushels of apples it can produce no more than:
A. 20 watermelons.
B. 15 watermelons.
C. 10 watermelons.
D. 5 watermelons.
In a competitive market free of government regulation,
a. price adjusts until quantity demanded is greater than quantity supplied. b. price adjusts until quantity demanded is less than quantity supplied. c. price adjusts until quantity demanded equals quantity supplied. d. supply adjusts to meet demand at every price.