Which of the following is a dynamic game?
A) rock-paper-scissors
B) flipping pennies
C) chess
D) the card game "war"
C
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In the Keynesian cross diagram, a decrease in investment spending because companies become more pessimistic about investment profitability causes the aggregate demand function to shift down, the equilibrium level of aggregate output to ________, and
the IS curve to shift to the ________, everything else held constant. A) rise; left B) rise; right C) fall; left D) fall; right
If the Fed believes the economy is about to fall into recession, it should
A. Use an expansionary monetary policy to lower the interest rate and shift AD to the right B. Use an expansionary fiscal policy to increase the interest rate and shift AD to the right C. Use a contractionary monetary policy to lower the interest rate and shift AD to the right
An example of a transfer payment is
A. unemployment insurance benefits. B. the President's salary. C. court costs paid by the defendants in a law suit. D. a payment to a defense contractor.
Describe the role of government policies in determining the natural rate of unemployment in a country