During the Great Depression, what appeared to be ________ fiscal policy was actually not when the ________ budget deficit or surplus is examined
A) expansionary; cyclically adjusted B) contractionary; actual
C) expansionary; actual D) contractionary; cyclically adjusted
A
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If the monthly unemployment rate increase mentioned in the Application wound up being a permanent and not temporary change, the best economic decision by the committee would most likely be to
A) decrease the money supply to stimulate the economy. B) not change monetary policy. C) decrease the money supply to slow the economy down. D) increase the money supply to stimulate the economy.
When the price of an inferior good falls, the substitution effect leads to ________ in the quantity purchased and the income effect leads to ________ in the quantity purchased
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
The expansion of information technology and the increasing complexity of the economy should make the wage premium
A. continue rising. B. continue falling. C. rise. D. fall.
Cite three important reasons why nations trade.
What will be an ideal response?