Historical evidence for the U.S. economy indicates that
a. recessions have occurred roughly once every six years since the 1960s.
b. the unemployment rate usually decreases during a recession and increases shortly after the recession ends.
c. real GDP usually remains roughly constant during a recession and decreases shortly after the recession ends.
d. changes in real GDP over the business cycle are largely attributable to changes in investment over the business cycle.
d
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The time it takes for a policy to actually work is known as
A) inside lags. B) crowding out. C) fiscal policy. D) outside lags.
Other things remaining the same, a decrease in inflationary expectations causes the velocity of money to:
a. Rise. b. Fall. c. Not change.
An excess demand for domestic currency at current exchange rates is known as a
A. Balance-of-payments deficit. B. Trade surplus. C. Trade deficit. D. Balance-of-payments surplus.
Price Per UnitQuantity Demanded Per Unit of Time$2012$1817$1620$1424$1230$1036$840$644$448Refer to the above data. Over which price range is the price elasticity of demand unitary?
A. $14-$12 B. $12-$10 C. $10-$8 D. $16-$14