The expenditure schedule includes the consumption function.
Answer the following statement true (T) or false (F)
True
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Compared with other countries in the OECD, French government spending relative to GDP is
A) among the highest. B) about average. C) slightly below average. D) among the lowest.
Poverty is
A. an absolute, not a relative concept. B. a relative concept, not an absolute. C. both an absolute and a relative concept. D. neither an absolute nor a relative concept.
According to the Taylor rule, if the inflation rate in the last year was 2% and output was equal to its full-employment level, the nominal Fed funds rate should be
A) 3%. B) 4%. C) 5%. D) 6%.
According to Classical interest rate theory, which of the following will decrease the equilibrium real interest rate?
A) A decrease in investment B) A decrease in saving C) An increase in money demand D) A decrease in money demand