In the 1980s, the federal government gradually ________ interest-rate ceiling on deposits at commercial banks and thrift institutions, which has ________ the costs of inflation
A) imposed, lowered
B) imposed, reduced
C) lifted, lowered
D) lifted, reduced
C
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Use the above figure. This graph is known as
A) the Laffer curve. B) the short-run Phillips curve. C) the NAIRU relationship. D) the Keynesian curve.
Decreased investment spending in the economy would be a possible result of:
A. a decrease in interest rates. B. an open market purchase of bonds by the Fed. C. an open market sale of bonds by the Fed. D. an increase in the money supply.
Analysis that is limited to making either purely descriptive statements or scientific predictions is
A) positive economics. B) normative economics. C) microeconomics. D) macroeconomics.
Which of the following will cause a reduction in current consumption?
A) a reduction in current disposable income B) a reduction in financial wealth C) a reduction in human wealth D) all of the above E) both B and C