Real standards of living can increase
A) if the country is producing the same amount they traditionally have and are enjoying more leisure time.
B) only if there is positive economic growth.
C) if there is positive growth in the manufacturing sector.
D) only at the cost of increased urban congestion.
A
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When there is a threat of inflation in the economy, the Fed can ________ the federal funds rate to ________ aggregate demand and ________ the price level
A) raise; decrease; decrease B) lower; increase; increase C) lower; increase; decrease D) raise; increase; decrease E) raise; decrease; increase
A change in real GDP sums up changes in
A) prices alone. B) physical production alone. C) physical production minus changes in price. D) physical production and prices.
If the price elasticity of supply of doodads equals 0.50 and the price rises by 3 percent, then the quantity supplied of doodads will rise by ____
a. 0.50 percent. b. 1.50 percent. c. 6.00 percent. d. 15 percent.
Which of the following would be an asset to a bank?
A. Cash in the vault B. A loan to a university student C. A government security D. All of these responses are correct.