If virtual currencies grow significantly in popularity, a potential threat is the ability of end users to:
a. Avoid paying taxes.
b. Engage in illegal activities without detection.
c. Increase demand without changes in a nation's "official' money supply figures.
d. All of the above are true.
.D
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During the Great Depression, the unemployment rate rose to a maximum of about
A) 10 percent. B) 25 percent. C) 50 percent. D) 13 percent. E) 67 percent.
Within the framework of the Keynesian model, if aggregate expenditures exceed aggregate output, then:
a. the inventories of firms would decline, and the firms would expand output in order to restore their inventories to desired levels. b. the inventories of firms would increase, and the firms would reduce output until inventories were cut back to the desired level. c. the current level of income would persist in the future. d. firms would reduce their investment, and the economy would fall into a recession.
If equilibrium in the economy is merely a function of aggregate demand, the aggregate supply curve must be:
a. upward-sloping. b. downward-sloping. c. in the Keynesian region. d. vertical. e. at the full-capacity level.
In principle, we can
a. ignore positive statements when choosing among various public policy alternatives. b. ignore normative statements when choosing among various public policy alternatives. c. confirm or refute positive statements by examining evidence. d. confirm or refute normative statements by examining evidence.