The major factor contributing to the depreciation of the dollar in 2007-2008 was:
A) higher U.S. interest rates resulting in lower capital outflows.
B) lower U.S. interest rates resulting in higher capital outflows.
C) higher U.S. interest rates resulting in higher capital outflows.
D) lower U.S. interest rates resulting in lower capital outflows.
B
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If the government imposes an effective ________, output decreases and ________ increases
A) price support; consumer surplus B) price floor; consumer surplus C) price support; total revenue D) price floor; marginal benefit to consumers E) price ceiling; efficiency
When the macroeconomic equilibrium is such that real GDP is less than potential real GDP, the economy is suffering from ________, and the government policy to eliminate this gap will ________ real GDP and ________ the price level
A) a recessionary gap; decrease; decrease B) an inflationary gap; increase; decrease C) a recessionary gap; increase; increase D) an inflationary gap; decrease; increase E) a recessionary gap; decrease; increase
Faster economic growth imposes an opportunity cost in the form of
A. reduced current consumption. B. a larger capital stock. C. increased investment. D. increased future income.
Generally, in a recession, more homes are built.
Answer the following statement true (T) or false (F)