During the fiscal expansion associated with the Vietnam war, what type of expenditures was initially "crowded out?"
A) autonomous consumption
B) nonresidential fixed investment
C) residential construction
D) nonresidential construction
C
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A monetary policy target is a variable that
A) the Fed cannot affect directly. B) the Fed has no ability to change. C) the Fed can affect directly. D) equals one of the Fed's main policy goals.
If there are no reserves, domestic adjustments to payment imbalances under fixed exchange rates require surplus countries to forsake full employment and deficit countries to forsake price stability.
Answer the following statement true (T) or false (F)
Technological breakthroughs, such as the Internet, can be shown with a rightward shift of the aggregate supply curve.
Answer the following statement true (T) or false (F)
When prices rise, what happens to income?
a. It goes down. b. It buys less. c. It rises to meet prices. d. It is used to buy different things.