Which of the following items is counted as part of government purchases?
a. The federal government pays the salary of a Navy officer.
b. The state of Nevada pays a private firm to repair a Nevada state highway.
c. The city of Las Vegas, Nevada pays a private firm to collect garbage in that city.
d. All of the above are correct.
d
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Which of the following statements is true?
A) An increase in the money wage rate shifts the AS curve rightward. B) A fall in the price level shifts the AS curve leftward. C) A decrease in potential GDP decreases aggregate supply and shifts the AS curve leftward. D) An increase in the money wage rate increases potential GDP. E) An increase in potential GDP increases aggregate supply and shifts the AS curve leftward.
An immediate depreciation allowance is referred to as ________ and it ________ the tax shield.
A) expensing the investment; increases B) straight-line depreciation; decreases C) straight-line depreciation; increases D) expensing the investment; decreases
Which one of the following is part of the M2 definition of the money supply, but not part of M1?
a. Checkable deposits. b. Currency held in banks. c. Currency in circulation. d. Small time deposits of less than $100,000.
Figure 33-6
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The long-run Phillips curve in Figure 33-6 (b) would include which of the following points?
A. g, e, m B. g, e, r C. j, e, r D. j, e, m