The Great Moderation refers to
a) Dramatic fall in business cycle volatility that occurred from the mid-1980s to the mid-2000s
b) The general fall in business cycle volatility after the second world war
c) The fall in global output that occurred after 2007
d) Improved monetary policy since the mid-1980s
e) Improved fiscal policy since the mid-1980s
a) Dramatic fall in business cycle volatility that occurred from the mid-1980s to the mid-2000s
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When the price level increases there is ________ movement along the aggregate demand curve because the buying power of money ________
A) a downward; increases B) an upward; increases C) an upward; decreases D) no; does not change E) a downward; decreases
A total cost curve shows the largest amount of a product a firm can produce with a minimum cost.
Answer the following statement true (T) or false (F)
In deriving the aggregate demand curve a ________ inflation rate leads the central bank to ________ real interest rates, thereby ________ the level of equilibrium aggregate output
A) higher; raise; lowering B) lower; raise; lowering C) higher; lower; lowering D) higher; lower; raising
Suppose you are a U.S. importer purchasing coffee from Guatemala at a dollar price of $10,000 . If the bank charges $0.12 per quetzal, you would have to buy 120,000 quetzals to settle the account with the Guatemalan exporter
a. True b. False Indicate whether the statement is true or false