Economic values that are measured in units per period of time are referred to as:
A. stocks.
B. flows.
C. unit values.
D. dollars.
Answer: B
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Autonomous expenditure is expenditure that is
A) influenced by the interest rate. B) not influenced by the interest rate. C) not influenced by real GDP. D) not influenced by the price level. E) influenced by real GDP.
How might the globalization of financial markets affect the role of financial frictions in business fluctuations?
What will be an ideal response?
The Earned Income Tax Credit avoids the poverty trap by doing which of the following?
a. Lowering benefits by 21.06 cents for every dollar earned above $17,530 b. Insisting people work in order to claim the benefit c. Allowing workers to keep their benefits no matter how high their income increased d. Increasing benefits by 21.06 cents for every dollar earned above $17,530