Over the past twenty years the Fed's policy experience
a. has been good and improving
b. is an indicator that economic policy is confused
c. shows a focus on full employment
d. reveals a lack of concern about unemployment
e. has been generally poor and deteriorating
A
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Government ownership of property and resources in the United States is
A. about as common as it is in European countries. B. widespread; the United States is a leader in the amount of government ownership of resources. C. relatively rare; the United States is mostly privatized. D. rare but has been increasing rapidly as the United States catches up to other countries.
Before entering, fixed cost associated with the industry in question are sunk costs for
A) the incumbent firm. B) the outside firm. C) both firms. D) neither firm.
The Keynesian range of the aggregate supply curve is the portion where:
a. The average price level and real GDP do not change with movements in aggregate demand. b. Real GDP does not change with movements of aggregate demand, but the average price level does change. c. The average price level does not change with movements of aggregate demand, but real GDP does. d. The average price level and real GDP change with movements in aggregate demand.
Top-down management of an economy by the government has consistently
A. caused double-digit increases in GDP. B. created incentives and opportunities for businesses to expand. C. led to low rates of economic growth. D. produced exceptional results in economic growth.