Which of the following is an ultimate objective of the Federal Reserve?
A) Real GDP growth
B) M1 growth
C) M2 growth
D) Low interest rates
A
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Which of the following goods is likely to have the least elastic demand over the relevant range of prices?
a. insulin b. eggs c. milk d. Pepsi Cola e. gasoline
By how much does the monetary base change when the government decides to increase government spending by 5% (assume flexible exchange rates)?
a. There is not enough information given to tell. b. The monetary base does not change at all. c. The monetary base falls by 5% d. The monetary base rises by 5%
Investment spending ____ during a recession, and _____ during an expansion
Fill in the blank(s) with the appropriate word(s).
Which of the following can cause inflation?
A. increases in long-run aggregate supply B. decreases in short-run aggregate supply C. increases in short-run aggregate supply D. decreases in aggregate demand