Federal government expenditures as a percentage of GDP
A) have risen since the early 1950s to the present.
B) have fallen since the early 1950s to the present.
C) rose from 1950 to 1991, fell from 1992 to 2001, rose again until 2011, and have fallen from 2011 to the present.
D) rose from 1950 to 2001 and then fell from 2001 to the present.
E) rose from 1950 to 1980, fell from 1981 to 2001, and have risen from 2001 to the present.
Answer: C
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Monopolistic competitors that give better deals to new customers than old customers assume that regular buyers have a ____________ demand than new buyers.
A. less inelastic B. more inelastic C. more elastic D. None of these choices are correct.
Suppose oil prices suddenly begin to rise and the Fed announces that the increase in oil prices are not expected to generate excessive inflation
If the Fed is incorrect in its assumption that rising oil prices will not generate excessive inflation and the inflation rate increases before the Fed takes corrective action, then other things equal, this would result in ________ and ________. A) the IS curve shifting to the right; a movement up the Phillips curve B) the IS curve shifting to the left; a movement down the Phillips curve C) the MP curve shifting up; a movement up the Phillips curve D) the MP curve shifting down; a movement down the Phillips curve
Related to the Economics in Practice on p. 630: The emigration of Jewish scientists from Germany to the United States in the late 1930s and early 1940s may have increased patent rates in their fields of chemistry by
A. up to 5%. B. 15%. C. more than 30%. D. over 100%.
Which of the following is a macroeconomics question?
A. Should the government prevent the merger of two large firms? B. Why does a firm decide to enter a particular market? C. Should we have a constitutional amendment to balance the federal budget? D. Should the government put a tax on alcohol in an attempt to reduce highway fatalities?