In the _______ range of the aggregate supply curve, expansionary fiscal policy that causes aggregate ______ to increase will lead to a higher price level and a higher equilibrium level of real GDP. ?
A. ?Keynesian, supply
B. ?Classical, demand
C. ?Intermediate, demand
D. ?Intermediate, supply
Answer: C
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Providing public goods is a(n)
A) economic function of government. B) political function of government. C) economic and political function of government. D) price system function.
The prototype of suburban tract development was in
A. San Luis Obispo, California. B. Camden, New Jersey. C. Butte, Montana. D. Levittown, New York.
Expansionary monetary policy to prevent real GDP from falling below potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) higher; higher B) higher; lower C) lower; higher D) lower; lower
Which statement is false?
A. Our balance of payments is the entire flow of U.S. dollars and foreign currencies into and out of the country. B. Our trade balance is just the difference between our imports and our exports. C. Our trade balance has been negative since the mid-1970s. D. None of these statements are false