The widespread decline in the volatility of many macroeconomic variables after 1984 led economists to term this period the
A. Steady State.
B. Long Boom.
C. Great Moderation.
D. Low Volatility Era.
Answer: C
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Suppose that the United States decided to subsidize a major competitive effort by the semiconductor industry to bring to market the next generation computer chip. Under the current rules of the WTO and GATT, the U.S. effort is
A) allowed as long as the subsidies are a small percent of the total cost. B) allowed as long as the subsidies do not involve a direct payment to the industry. C) not allowed. D) neither allowed nor disallowed. E) allowed as long as the subsidies do not succeed in creating a new product.
In an attempt to solve the problem of the overvalued dollar in the early 1970's, the United States
a. revalued the dollar, which made foreign exchange cheaper. b. decreased the price of gold in terms of the dollar. c. devalued the dollar, which made foreign exchange cheaper. d. devalued the dollar, which made foreign exchange more expensive.
Which of the following is NOT one of a group of variables that make up the Index of Leading Indicators?
A. New building permits issued B. The unemployment rate C. Index of stock prices D. The money supply
Which of the following is a normative economic statement?
A) Few auto mechanics are women. B) Men and women should earn the same salary if they perform the same job. C) Auto mechanics typically earned more than waitresses in the United States in 2017. D) Most wait staff are women.