For every choice a person makes it can be assumed that
A) the chooser has full knowledge of the situation.
B) some opportunity cost was involved.
C) there is a fifty-fifty chance the choice was the wrong one.
D) a good is involved and satisfaction is gained.
B
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Countries that have indexed most contracts, wages, and interest rates to inflation have managed to sustain solid levels of economic growth for sustained periods with levels of inflation at ________, which would sound high by recent U.S. standards.
a. 10 percent to 30 percent per year b. 30 percen to 40 percent per year c. 5 percent to 10 percent per year d. 40 percent to 50 percent per year
Falling barriers to international trade destroy manufacturing jobs in wealthy advanced economies. Discuss this statement. Do you agree? Why or why not?
What will be an ideal response?
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; lower; potential C. recessionary; lower; lower D. expansionary; lower; potential
If the Fed wants to implement expansionary monetary policy, it might:
A. sell government securities to reduce the federal funds rate. B. buy government securities to increase the federal funds rate. C. buy government securities to reduce the federal funds rate. D. sell government securities to increase the federal funds rate.