An upward shift in the Fed's policy reaction function is a ________ of monetary policy, and the aggregate demand curve ________.
A. tightening; shifts left
B. easing; shifts left
C. tightening; shifts right
D. easing; shifts right
Answer: A
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Inga's graph of her budget line has apples per week on the vertical axis and loaves of bread per week on the horizontal. A fall in the price of an apple shifts the
A) horizontal intercept leftward. B) horizontal intercept rightward. C) vertical intercept downward. D) vertical intercept upward.
An individual whose attitude toward risk is illustrated in Figure 5.1 is
A) risk averse. B) risk loving. C) risk neutral. D) None of the above is necessarily correct.
Which of the following is not a cost of specialized task assignment?
A. Functional myopia B. Reduced flexibility C. Comparative advantage of specialization D. Foregone complementarities across tasks
What's the difference between firm-specific risk and market risk? Will diversification eliminate one or both? Explain