The Fed first announced an inflation target of 2% in
A) 1979.
B) 2005.
C) 2012.
D) 2015.
C
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For each $1 of a tax cut, economists expect consumption to
A. decrease by $1. B. decrease by less than $1. C. increase by less than $1. D. increase by $1.
Suppose the price elasticity of demand for a product is 1 . If a supplier wants to increase revenue, what change should it make to price, if any?
What is important when remembering what, how, and for whom to produce?
What will be an ideal response?
Those who are concerned about balanced budget amendments typically argue that balanced budget amendments
A) cause interest rates to be higher than they otherwise would be. B) would make fluctuations in output around the natural level of output greater. C) would increase spending in a recession. D) would reduce national saving.