The concept of ________ is based on the common-sense notion that a dollar paid to you in the future is less valuable to you than a dollar today
A) present value
B) future value
C) interest
D) deflation
A
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An appreciation of the U.S. dollar makes foreign goods cheaper relative to American goods, resulting in a ________ in net exports in the U.S. and a ________ shift of the IS curve in the U.S., everything else held constant
A) fall; leftward B) rise; leftward C) fall; rightward D) rise; rightward
The natural rate of unemployment ________
A) is equal to 0.078 percent B) is a constant C) varies across time and countries D) is equal to the cyclical rate of unemployment divided by the actual rate
The American Revolution changed the basic structure of private property rights inherited during the colonial period
Indicate whether the statement is true or false
Suppose that real GDP is initially $14 trillion and the government attempts to increase real GDP to $15 trillion
The marginal propensity to consume is 0.8, and every $1.00 increase in real government spending crowds out $0.50 in real planned investment expenditures. Which increase in government spending below could yield the desired level of real GDP? A) $100 billion B) $125 billion C) $200 billion D) $400 billion