On average, in the recessions since 1950, it has taken ________ for real GDP to return to its cyclical peak
A) about 6 months B) about 1 year C) about 18 months D) almost 2.5 years
C
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Based on the following information, what is the balance on the current account?
Exports of goods and services = $5 billion Imports of goods and services= $3 billion Net income on investments = -$2 billion Net transfers = -$2 billion Increase in foreign holdings of assets in the United States = $4 billion Increase in U.S. holdings of assets in foreign countries = -$1 billion A) -$2 billion B) $1 billion C) $3 billion D) $4 billion
Unlike AFDC, TANF is an entitlement program
Indicate whether the statement is true or false
Monetarists reject using discretionary monetary policy as an effective stabilization tool because
a. it would require the money supply to grow at a rate equal to the economy's long-run rate of economic growth. b. they do not believe that changes in the money stock affect output or prices. c. they believe that there are lengthy and variable time lags between when a change in monetary policy is instituted and when the change exerts its primary impact on output and prices. d. they believe monetary policy can stimulate aggregate demand, but it cannot control inflation.
Due to the trend in U.S. out-of-pocket health care spending over the past 50 years, the fraction of the true cost of health care being paid directly by consumers
A) has been rising. B) has been falling. C) has remained relatively constant. D) has reached zero.