GDP data alluding to the start of a recession in January 2015 was published and analyzed by the Fed in July 2015
The Fed held meetings to formulate a monetary policy to deal with the recession, and then it enacted the chosen policy in September 2015. It was December 2015 before the policy actually began to affect the economy. The three-month period from September 2015 to December 2015 exemplifies a(n) A) recognition lag.
B) implementation lag.
C) impact lag.
D) liquidity lag.
C
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Refer to Figure 7-5. The efficient price of medical services is
A) $40. B) $55. C) $65. D) > $65.
An important distinction between the labor market and the market for commodities is:
a. that contracts are arrived at more easily in the former. b. the individual attributes of the buyer and seller hold far more importance in the former case. c. that it is impossible to prevent breach of contract in the labor market. d. that the market for commodities is a matching market while the former is not.
Refer to Figure 4-11. Suppose the market is initially in equilibrium at price P1 and then the government imposes a tax on every unit sold. Which of the following statements best describes the impact of the tax?
A) The consumer will bear a greater share of the tax burden if the demand curve is D2.
B) The consumer will bear a greater share of the tax burden if the demand curve is D1.
C) The consumer will bear the entire burden of the tax if the demand curve is D1 and the producer will bear the entire burden of the tax if the demand curve is D2.
D) The consumer's share of the tax burden is the same whether the demand curve is D1 or D2.
Refer to the information provided in Table 23.8 below to answer the question(s) that follow. Table 23.8
Refer to Table 23.8. Which of the following statements is false?
A. If aggregate output equals $4,000 million, then aggregate saving equals $1000 million. B. At an output level $4,000 million, there is a $400 million unplanned inventory decrease. C. At an output level of $3,000 million, there is a $600 million unplanned inventory decrease. D. The MPC for this economy is 0.8.