By 2012, the dollar value of the debt:
A. back down to 40 percent of GDP.
B. was reduced to $500 billion.
C. the lowest in the U.S. history.
D. past 100 percent of GDP.
Answer: D
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The Taylor rule predicted a federal funds rate which was ________ that set when Paul Volcker was chairman of the Fed, and a rate which was ________ that set when Arthur Burns chaired the Fed
A) less than; equal to B) greater than; less than C) greater than; equal to D) less than; greater than
The role of the currency exchange rate is embedded in the import expenditure equation as:
A) autonomous import spending. B) marginal propensity to import. C) autonomous export spending. D) none of the above.
The Celler-Kefauver Act of 1950:
a. amended the Sherman Act to outlaw price fixing where the effect is to lessen competition b. created the Interstate Commerce Commission. c. prohibited conglomerate mergers where the effect is to lessen competition. d. prohibited a firm from acquiring the assets of another firm where the effect is to lessen competition.
A particularly severe or protracted recession is called a(n):
A. peak. B. expansion. C. boom. D. depression.